Crypto Market Stable as Trump Tariffs Exempt Key Sectors, Bitcoin Surges 16%

Crypto prices remained stable on Monday morning as investors responded positively to new developments regarding Donald Trump’s tariffs. The anticipated reciprocal tariffs set for April 2 will not impact industrial sectors such as automobiles and microchips. Consequently, Bitcoin surged above $86,000, while Ethereum climbed above $2,000. This stability in the crypto market has led to a renewed interest in various tokens, including Fartcoin, Ethena, and Pi Network.

Fartcoin, a prominent meme coin on the Solana blockchain, has shown significant performance in recent weeks. It reached a low of $0.2140 this month but has since begun forming a rounded bottom pattern, a bullish continuation signal. The eight-hour chart indicates that the upper boundary of this pattern is at $0.7153, its highest swing on February 11. Additionally, Fartcoin has moved above the 50-period moving average, suggesting that bullish momentum is increasing. The Relative Strength Index (RSI) and the MACD indicators are both trending upwards, indicating an accelerating surge. Fartcoin has retested the crucial resistance point at $0.5750, the lowest swing on December 21 last year. It is now approaching the 23.6% Fibonacci Retracement point at $0.80. Therefore, the Fartcoin token price is likely to continue rising as bulls target the key resistance level at $0.7153. A move above this level could signal further surges to the 50% retracement at $1.4745, representing a 160% increase from the current level. Conversely, a drop below the support at $0.40 would invalidate the bullish outlook.

Ethena, another notable cryptocurrency, has gained popularity due to its stablecoin, USDe, and the investment from World Liberty Financial. The USDe stablecoin has attracted over $5.3 billion in assets, making it the 26th largest coin globally. Its popularity is driven by a high yield of about 4% and nearly 600,000 users. Ethena has also benefited from its USDtb stablecoin, which has attracted over $1.18 billion in assets. However, Ethena's price has struggled in recent months, falling from a high of $1.3265 on December 16 to a low of $0.3378. This decline is largely due to the ongoing crypto sell-off and fears that its stablecoins may face a similar crash to Terra. Despite this, there are signs that Ethena's price has bottomed at $0.3378, with the MACD and RSI forming a bullish divergence pattern. Therefore, the token is likely to rise as bulls target the key resistance at $1, representing a 160% increase from the current level.

The Pi Network token, on the other hand, has faced significant challenges. The two-hour chart shows that the token peaked at $3 but has since crashed below the key support at $1. It has dropped below all moving averages, indicating that bears are currently in control. However, there is a positive sign as the Pi coin price has formed a falling wedge pattern. The upper side of the wedge connects the highest swings since February 28, while the lower side connects the lowest points since March 2. The two lines are now nearing their confluence level, suggesting a potential strong comeback for the Pi coin price, potentially reaching $1.80, an 86% increase from the current level. This price point corresponds to its highest swing on March 18.