Altcoins Plunge Amid Trump Tariff Fears, Bitcoin Dominates

The crypto market is experiencing heightened volatility due to intensifying concerns over Trump's tariffs, with Bitcoin asserting its dominance and pushing altcoins into decline. Amid macroeconomic uncertainty, Bitcoin’s market share has surged, eclipsing the fortunes of many altcoins, which are now in precarious positions. Analyst Peter Brandt noted that XRP’s price movement may confirm a bearish trend if critical support levels are breached, highlighting the pressure on altcoins.

The ongoing macroeconomic uncertainty is significantly impacting altcoins, particularly Ethereum (ETH), XRP, and Cardano (ADA). Ethereum has seen bears firmly establish control, with the Relative Strength Index (RSI) indicating oversold conditions. This negative sentiment has affected its ETH/BTC ratio, which is now at a five-year low. A crucial level to watch is $1,500; if bulls fail to defend this support, ETH could slide into a troubling price range of $1,000 to $1,500.

Solana (SOL) has also succumbed to the broader market pressures, dropping below its key yearly support of $120 to $100 for the first time since early 2024. With losses of up to 67% from its peak of $295, investors need to monitor the price range of $80 to $120 closely. The 200-week moving average (WMA) at $94 will serve as a critical threshold for assessing market strength moving forward.

XRP has managed to retain 220% gains since the U.S. elections, yet the recent dip below $1.90 creates a potential risk for a bearish head-and-shoulders formation, with analysts warning that it could fall to $1.00 if bearish momentum persists. This scenario is supported by weak demand measured by the RSI and low trading volumes indicated by On-Balance Volume (OBV).

Cardano (ADA) is similarly experiencing a decline, with demand and capital inflows slowing down considerably after a brief recovery in March. Analysts caution that a breach below critical trendline support could lead to prices retreating towards pre-election levels beneath $0.40, indicating a bear trend.

In conclusion, the current pressures on altcoins such as Ethereum, Solana, Cardano, and XRP highlight the vulnerability of the cryptocurrency market in response to macroeconomic events. While key technical indicators suggest a potential for reversal, the overall market sentiment remains cautious. Investors are advised to remain vigilant of updates regarding Trump’s tariffs, as they could significantly impact inflation and asset prices going forward.