By April Lanux

The launch of the 4th Africa Innovation Outlook (AIO-2024) Report arrives at a critical time in Africa’s development trajectory, coinciding with the continent’s inclusion in the G20 platform and its ongoing efforts to implement key initiatives such as the Science, Technology, and Innovation Strategy for Africa 2024 (STISA-2034). As Africa accelerates its Second Ten-Year Implementation Plan (STYIP) of Agenda 2063, alongside the AU-EU Innovation Agenda (2023-2032) and the 2030 Agenda for Sustainable Development, the focus on SDG9 (Science, Technology, and Innovation) and SDG17 (Global Partnerships) is more prominent than ever.

The AIO-2024 report highlights the ongoing collaboration between African Union (AU) Member States and Sweden under the African Science, Technology, and Innovation Indicators (ASTII) programme. This partnership has significantly strengthened the capacity of over 3,500 civil servants and experts, enabling them to track national investments in research and innovation more effectively. It also ensures that Africa remains committed to achieving the AU target of 1% of GDP dedicated to research, while working towards the OECD target of 3%. This continued effort plays a key role in fostering innovation for competitiveness across the continent.

Science and technology have become the bedrock of Africa’s growth and transformation. As the continent continues to invest in research and development, there is a growing recognition of the need for global partnerships and investments that will drive Africa’s innovation ecosystem. The AIO-2024 report offers a snapshot of these advancements, showcasing the continent's commitment to fostering innovation across diverse sectors.

By Richard Thompson

Cryptocurrency traders were in for a pleasant surprise on March 2 after US President Donald Trump announced a crypto strategic reserve to include Bitcoin

BTC $86,336

, Ether ETH $2,151

, XRP XRP $2.39

, Solana SOL $142.85

, and Cardano ADA $0.8547

. The news triggered huge buying, with Bitcoin rising from about $85,000 to $95,000 and Cardano galloping more than 72%. The remaining altcoins also saw a strong rally.

However, Nansen principal research analyst Aurelie Barthere said that establishing a US crypto reserve will take time as it needs a vote in Congress. Research analyst Nicolai Sondergaard from the same blockchain analytics firm told Cointelegraph that the tokens selected for the crypto reserve are likely to witness volatility.

Prior to Trump’s announcement, the sentiment in the cryptocurrency sector remained negative. CoinShares reported $2.9 billion in outflows from cryptocurrency exchange-traded products last week. That marked the third consecutive week of outflows after a 19-week inflow streak.

After the initial reaction of short covering and buying by traders, will the rally continue? Let’s look at the charts to determine their support and resistance levels. Bitcoin price analysis

Bitcoin fell below the 20-week exponential moving average ($90,623) last week and dipped near the 50-week simple moving average ($75,534), but the long tail on the candlestick shows solid buying at lower levels.

The upsloping moving averages indicate an advantage to buyers, but the negative divergence on the relative strength index (RSI) suggests that the bullish momentum is weakening. If the price slips and maintains below the 20-week EMA, it will signal the start of a corrective phase that could reach the 50-week SMA.

Contrarily, if the price remains above the 20-week EMA, it will indicate that the sentiment remains positive, and traders continue to buy the dips. That improves the prospects of a retest of the all-time high at $109,588. A break above $109,588 could start the next leg of the uptrend to $138,000.

The BTC/USDT pair rose above the 20-day EMA on March 2, but the bulls could not sustain the higher levels. The $90,000 to $85,000 zone is likely to attract solid buying by the bulls. If the price rebounds off the support zone, it will increase the likelihood of a rally above $100,000.

This positive view will be invalidated if the price continues lower and breaks below the support zone. That will indicate the bears are in control. The pair may tumble to $78,258 and then to $73,777.

Ether price analysis

Ether has been range-bound between $2,111 and $4,094 for the past several weeks, indicating buying near the support and selling close to the resistance.

The pair bounced off the $2,111 support and reached the 20-day EMA ($2,544) on March 2. The failure to pierce the 20-day EMA suggests that the bears are selling on rallies. Sellers will again try to sink the pair below $2,111. If they manage to do that, the pair risks falling to $1,500.

Buyers will have to kick the price above the downtrend line to signal a comeback. The pair may then attempt a rally to $3,400 and subsequently to $3,750.

XRP price analysis

XRP has been struggling to sustain above $3, signaling that the bears are fiercely defending the level.

The upsloping 20-week EMA ($2.18) and the RSI in the positive zone suggest that buyers have the edge. The bulls will have to push and maintain the price above $3 to indicate the start of the next leg of the uptrend toward $4 and then $5.

This optimistic view will be negated if the price turns down and breaks below the 20-week EMA. There is strong support at $2, but if the level breaks down, it will signal the start of a deeper correction to $1.50.

The bulls pushed the pair above the $2.84 resistance on March 2 but are struggling to hold on to the breakout. The pair has dropped to the 20-day EMA ($2.50), which is an important support to watch out for. If the price rebounds off the 20-day EMA, the bulls will again try to push the pair to $3.40. A break above this resistance could start the next leg of the uptrend to $5.

Conversely, a break and close below the 20-day EMA risks a fall to the solid support at $1.99. A close below $1.99 will complete a bearish head-and-shoulders pattern, starting a downtrend to $1.50 and then $1.28.

Solana price analysis

Solana rebounded off the $125 support, but the relief rally is facing selling near the 50-week SMA ($173).

The 20-week EMA ($191) has started to turn down, and the RSI is just below the midpoint, indicating advantage to sellers. There is minor support at $157, but if the level cracks, the SOL/USDT pair could retest the $125 support. A break and close below $125 could sink the pair to $80.

If bulls want to prevent the downside, they will have to quickly drive and maintain the price above the 20-week EMA. Doing that will open the doors for a rally to $220 and later to $260. A break and close above $260 could start a new uptrend.

The pair surged above the 20-day EMA ($167) on March 2, but the bulls could not sustain the higher levels. This suggests that the bears are active at higher levels. If the price maintains below the 20-day EMA, the pair could slide to $125.

On the upside, a break and close above $180 suggests that buyers are back in the game. The pair may climb to the 50-day SMA ($200) and later to $220. Sellers are expected to fiercely defend the zone between $240 and $260.

Cardano price analysis

Cardano is trying to form a cup-and-handle pattern on the weekly chart, which will complete on a break and close above $1.25.

The 20-week EMA ($0.82) is sloping up, and the RSI is in the positive zone, signaling advantage to buyers. If the price closes above $1.25, the ADA/USDT pair could rise to $1.60 and later to the pattern target of $2.26.

Contrarily, if the price turns down and breaks below the 20-week EMA, it will suggest a range formation in the near term. The pair could swing between $1.25 and the 50-week SMA ($0.59) for some time.

The pair skyrocketed above the descending channel pattern on March 2, indicating that the correction might be over. However, the sellers have not given up, and they pulled the price back into the channel. If the price remains inside the channel, it will suggest that the markets rejected the breakout. The pair may drop to the 50-day SMA ($0.85), which is likely to attract buyers.

If the bulls want to retain the advantage, they will have to quickly push and sustain the price above the resistance line. The pair may then rally to $1.25.