CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Moralis Money
Crypto Daily 2025-04-03 11:13:35

Altcoins Teetering on the Brink Following Trump Tariffs Announcement

If Bitcoin holders were starting to look uneasy following the sweeping reciprocal tariffs that President Trump imposed on the world on Wednesday, holders of altcoins could be feeling something akin to desperation. Is crypto about to plunge even further? Total2 at major support Source: TradingView Total2 is the chart of the combined market capitalisation of all cryptocurrencies, excluding $BTC. Therefore it can be used to gauge the general health of the altcoin market. The chart is pointing out that altcoins are teetering on the brink. The market cap is currently resting on the fairly strong horizontal support at $966 billion. There is further support a bit further down at $936 billion, but if this then fails, a drop to $780 billion, or even a plummet down to $670 billion is a possibility. Altcoins still overpriced? Some might say that the altcoin market has already fallen more than 40%, and that it is probably time for a bounce. However, the counter-argument is that many altcoins are still very overpriced. For example, Dogecoin (DOGE) is a memecoin, and it has a market cap of $24 billion. Cardano (ADA) , a layer 1 blockchain network, has a market cap of $22.7 billion. These are roughly equivalent to the Spanish telecommunications giant Telefónica ($26.6 billion) or pharmaceutical company Bayer ($23.5 billion). Ethereum confirming break of bull trend? Source: TradingView Ethereum (ETH) is the leading layer 1 blockchain network by market cap. That said, the weekly chart above does not bode well. It can be seen that the price has fallen through major support levels, turning them into resistance, and the ascending bull market trendline has broken down and the $ETH price may now be confirming this break. All that can be said in favour of $ETH is that the Stochastic RSI indicators are at the bottom. Some kind of bounce should be due, although the indicator lines could bump along the bottom for a while. Altcoins bearish until Trump tariffs are resolved The main problem for the altcoins is most probably the very bearish situation of the Trump tariffs. This is hitting stocks and assets across the globe, so risk assets, and especially those at the tip of the risk curve like altcoins, are not going to flourish until things change. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

https://www.digistore24.com/redir/325658/ceobig/
Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta