20.02.202611:31 Forex Analysis & Reviews: Another meeting on CLARITY Act

Yesterday, Ripple CEO Brad Garlinghouse expressed confidence that the market structure bill, CLARITY, will be approved by April this year, estimating the probability at 90%.

The statement came against the backdrop of another White House meeting devoted to the yields on stablecoins—a key aspect that many see as a stumbling block to passage of the CLARITY Act. The third such discussion brought together leading industry participants at the same table: representatives of the exchange Coinbase, the company Ripple, and venture giant Andreessen Horowitz (a16z).

I have often noted that the focus on stablecoin yields is no accident. Different approaches to issuance, backing, and, naturally, extracting profit from the circulation of these digital assets provoke heated debate. For some, stablecoins are primarily a payments and trading tool. For others, they are a promising financial product capable of generating substantial returns, and for bankers, they are a genuine headache. It is precisely this spectrum of views and business interests that makes finding a compromise solution—one that can satisfy all sides and, importantly, provide an adequate level of protection for investors and consumers—so difficult.

The participation of such key figures as representatives from Coinbase, Ripple, and a16z underscores the seriousness of the administration's and industry's intent to find common ground. Coinbase, as one of the largest crypto exchanges, wants regulatory clarity for its operations. Ripple, actively promoting cross-border payments based on XRP, sees the CLARITY bill as an opportunity to create a more predictable and favorable environment for digital assets. Andreessen Horowitz, as an investor in many blockchain projects, is similarly interested in the long-term stability and growth of the crypto market. Their joint efforts could prove decisive in steering the bill through legislative hurdles. However, much depends on whether all these major players can find common ground with representatives of the American banking sector, which so far seems unlikely.

Trading recommendations:

Regarding the technical picture for Bitcoin, buyers are currently targeting a return to $68,900, which would open a direct path to $70,600 and then to $71,125. The farther target is the peak near $74,600, and breaking that level would indicate attempts to restore a bullish market. In the event of a decline, buyers are expected at $66,400. A return of the trading instrument below that area could quickly push BTC toward $64,400. The farther downside target is around $62,600.

Regarding the technical picture for Ethereum, clear consolidation above $1,998 would open a direct route to $2,078. The farther target is the peak near $2,169. Breaching that level would strengthen bullish sentiment and renew buyer interest. If Ether falls, buyers are anticipated at $1,907. A return below that zone could rapidly send ETH down to about $1,819. The farther downside target is around $1,724.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.