Robinhood Markets Inc. (NASDAQ:HOOD) shares surged more than 12% Friday as Bitcoin rose 7.52% over 24 hours to $77,703.74, according to CoinMarketCap. The move outpaced the Nasdaq, which gained 0.02%, and the S&P 500, which rose 0.28%. Crypto sentiment improved after a White House cryptocurrency summit Wednesday attended by CFTC Chairman Michael Selig, SEC Chairman Paul Atkins and executives from Coinbase Global Inc. (NASDAQ:COIN), Robinhood, Ripple and Kalshi. President Donald Trump reiterated his support for U.S. cryptocurrency leadership and urged Congress to pass the CLARITY Act, which would establish regulatory standards for digital assets. Robinhood was trading above its 20-day, 50-day, 100-day and 200-day simple moving averages (SMAs), at $93.81, $100.28, $89.80 and $96.07, respectively, keeping the intermediate trend pointed higher despite recent volatility. However, the 20-day SMA remained below the 50-day SMA, indicating a weaker short-term setup. Resistance was identified at $120.50 and support near $93. At publication Friday, Robinhood shares were up 11.60% at $106.14, according to Benzinga Pro data.