Last Friday, it was announced that the US Senate approved two pro-cryptocurrency candidates nominated by Donald Trump for key positions, which had a positive impact on the cryptocurrency market, leading to noticeable gains over the weekend.

Michael Selig was appointed as the head of the Commodity Futures Trading Commission (CFTC). Selirg previously worked at the SEC, focusing on crypto policy and market structure. He considers most crypto assets to be commodities rather than securities and supports stablecoins, tokenization, and spot markets.

Travis Hill has become the head of the Federal Deposit Insurance Corporation (FDIC). He is currently serving as the acting head of the agency and has publicly opposed the debanking of crypto companies. He has also allowed banks to work with cryptocurrencies without separate regulatory approval, advocating for a banking model for regulating stablecoins.

The appointments of Selirg and Hill indicate a potential easing of regulation in the US cryptocurrency industry. Previously, crypto companies faced significant pressure from the SEC and other agencies, which hindered industry development. With more lenient regulators now in place, companies will have greater flexibility for innovation and growth.

However, it is important to remember that much work remains to be done in developing clear and understandable rules that consider both industry interests and investor protection. Ensuring regulations do not stifle innovation while providing safeguards against fraud and abuse is crucial. Nonetheless, the appointments of Selirg and Hill are undoubtedly a positive signal for the crypto community. Their arrival could mark the beginning of a new era in regulating cryptocurrencies in the US, emphasizing the creation of a favorable environment for innovation and investment rather than restrictions and bans.

Trading recommendations:

Regarding the technical outlook for Bitcoin, buyers are currently targeting a return to the $89,600 level, which opens a direct path to $92,300; from there, it would not be far to $95,000. The ultimate target will be around the peak at $95,900, and surpassing this level would indicate attempts to return to a bullish market. Should Bitcoin decline, I expect buyers at the $87,400 level. A return of the trading instrument below this area could quickly push BTC down to around $85,500, with the further target being the $83,220 region.

For Ethereum, clear consolidation above the $3,105 level opens a direct path to $3,233. The ultimate target will be around the peak at $3,349, and exceeding this level would indicate a strengthening of bullish market sentiments and renewed buyer interest. If Ethereum declines, I expect buyers at the $2,997 level. A drop below this area could swiftly send ETH down to around $2,858, with the further target being the $2,763 region.

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.

Typically, a crossover or price test of these moving averages either halts market momentum or sets a new directional impulse.