Altcoins volatile as market adjusts to Trump tariffs
The crypto market is up and down on Friday as it attempts to adjust to yesterdays crazy stock market plunge. Everything is about tariffs, and it may be several days, or even weeks, before the dust begins to settle. Here is how some of the top altcoins are faring in this very unsettled environment.
$ETH awaits possible breakdown confirmation
Source: TradingView
With Bitcoin (BTC) having climbed 1.8% and now back in the red, all in the space of the last couple of hours, Ethereum (ETH) is not going to be outperforming. The number two cryptocurrency by market capitalisation is still waiting for the market to decide whether the current breakdown below the resistance and the bull market trendline will be confirmed. This will be known at the end of this week.
There is strong horizontal support lower at $1,560, but with the bull market either finished now, or perhaps later this year, this is a very poor position to be in. The bulls will hope that possible rate cuts in the US, in order to stave off a tariffs-induced economic collapse, can ignite a crypto rally.
$XRP rolling over - cliff edges underneath price
Source: TradingView
If one discounts Tether, given that it is a stablecoin, $XRP is currently the third biggest cryptocurrency by market cap. After the huge surge to over $3 over the last part of 2024 and into 2025, the price has rolled over and has been bouncing from the strong horizontal support at $1.96. If this breaks, $1.57, $1.30, and $0.95 are the next cliff edges.
$BNB needs to hold current level
Source: TradingView
Even with one of the best charts among the top altcoins, $BNB still has its problems. The price is currently near the $584 horizontal support level. Should it break down through this, it will head down to the bottom of the triangle and the very strong horizontal support at $506. This is the last support before the price could drop off its own cliff edge.
The Stochastic RSI at the bottom of the chart has the indicators shaping to roll over. Holding the current levels will be important to prevent this happening.
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.
Read more: https://cryptodaily.co.uk/2025/04/altcoins-volatile-as-market-adjusts-to-trump-tariffs
Text source: Crypto Daily™
