Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline

Ethereum and Solana prices held steady on Thursday, continuing a recovery that started on Wednesday. ETH rose to $2,050, while SOL jumped to $87. This recovery may continue as traders focus on the upcoming Clarity Act stablecoin deadline on March 1.

Clarity Act Faces Major Deadline on March 1

One major catalyst for Ethereum, Solana, and other altcoins will be the upcoming Clarity Act stablecoin deadline on March 1. According to Brad Garlinghouse, Ripple’s CEO, the White House has placed that deadline to put pressure on the two sides to reach an agreement.

The Clarity Act, which seeks to change how cryptocurrencies are regulated in the United States, stalled Las month in the Senate after Coinbase withdrew its support. Coinbase has argued that banks are fighting the bill because of its stablecoin provisions.

Precisely, banks are opposed to the idea of crypto exchanges offering stablecoin rewards to their customers. Their argument is that these rewards will lead to capital outflows from banks, a move that will affect the economy by reducing the amount of money available for lending.

Therefore, the White House is trying to mediate between the two sides with the goal of finding a middle ground. If passed, the bill will be the second major regulatory win for the crypto industry after the GENIUS Act, which passed last year.

Traders on Polymarket are betting that

the Clarity Act will be passed into law this year. A Polymarket poll with over $242k in assets, places the odds of this happening at 69%, up sharply from this week’s low of 48%. 

In theory, the passage of the Clarity Act will be bullish for the crypto market as it will streamline how the sector is regulated, with most work being transferred to the CFTC.

However, it is unclear whether Ethereum, Solana, and other tokens will soar if this happens as other factors will come into play. For example, the coins may be impacted by a potential US strike on Iran, which analysts believe will happen in the coming weeks.

Solana Price Prediction: Technical Analysis 

The daily timeframe chart shows that the SOL price has rebounded in the past few days, moving from a low of $75.65 to a high of $92. This rebound happened after forming a double-bottom pattern, a common bullish reversal sign in technical analysis.

Still, SOL price remains below all moving averages, while the Supertrend indicator has remained in the red since January this year. Also, the token has formed a bearish flag pattern, which often leads to a bearish breakdown.

Therefore, the most likely SOL price forecast is bearish, with the initial target being at $75.65. A move below that level will point to more downside, potentially to $65.

Ethereum Price Prediction: Technical Analysis 

The daily chart shows that the ETH price also rebounded this week as the crypto market rally happened. 

However, like Solana, it remains below all moving averages, while the Supertrend indicator has turned red. Also, there are signs that it has formed a bearish flag pattern.

Therefore, there is a risk that it will resume the downward trend, potentially the key support level at $1,756, its lowest level this year.