Both Ethereum (ETH) and Solana (SOL) have booked a 2% gain in the past 24 hours after President Donald Trump signed an executive order (EO) that would allow U.S. investors to add crypto to their retirement accounts.
President Trump instructed the Labor and Treasury Departments, along with the U.S. Securities and Exchange Commission (SEC), “to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidance.”
This means that applications for new spot altcoin exchange-traded funds (ETFs) for Solana could soon be approved to give investors the chance to pour money into these vehicles with their 401(k)s.
These accounts are tax-advantaged vehicles that allow investors to defer tax payments on their gains until they start making withdrawals at the retirement age.
The White House has once again shown its commitment to making America “the crypto capital of the world” with this decision.
Over $8.7 trillion in assets are held in 401(k)s and this could result in a significant boost to crypto prices in the near term.
Trading volumes for both tokens jumped by 30% (ETH) and 40% (SOL) in the past 24 hours following the news and more than $200 million worth of short positions in the crypto market were wiped out as a result.
ETH and SOL Charts Hit Key Resistances – Can They Break Out to Higher Highs?
Ethereum’s 4-hour chart shows that the top altcoin has hit a key area of resistance at $3,900 and has not yet managed to surpass the $4,000 psychological barrier.
The American session could provide the necessary liquidity to reach this level. However, this is an important price zone where selling pressure has been high in the past, so investors should approach long positions with caution.
If a move above $4K does occur, we could expect a pullback at some point to the $3,750 area days after. This would provide the most attractive entry for late buyers and could propel ETH much further if buying pressure is strong enough.
Solana (SOL) has also entered a key area that acted as support previously and that could now turn to resistance. However, the pullback for this altcoin, in case there’s one, could be milder compared to ETH and could push the token to $171.5 before the next leg up.
SOL’s upside potential is much higher compared to ETH as the price could rise to $200 shortly or even higher if bullish momentum accelerates. This would mean a 17% gain in a relatively short period.
The Relative Strength Index (RSI) has not yet reached overbought levels in this lower time frame. Hence, Solana could still rise much farther and possibly break above this resistance. If that happens, a retest of the $180 area would be the one that provides the necessary gasoline for a move to higher ground.
Meanwhile, the best crypto presales of the year like Snorter (SNORT) and Maxi Doge (MAXI) stand to gain from this positive momentum as investors seek the next crypto to 10X.
Snorter (SNORT) Offers a Way to Snipe the Best Solana and Ethereum Meme Coins
Snorter (SNORT) is a meme coin trading bot designed to snipe the best tokens across the Solana and Ethereum blockchains.
Its presale has raised more than $2.4 million in just a few months to launch its sophisticated algorithmic trading platform. The bot offers low commissions, the possibility of setting limit orders for precise entries and exits, and protection against rugpulls, honeypots, and other scams.
To buy $SNORT, head to the Snorter website and connect your wallet. You can swap SOL, USDT, or ETH or use a bank card to invest.
