President Donald Trump's announcement of new customs tariffs has raised significant concerns among cryptocurrency investors. The growing global trade war adds selling pressure.
Tariff Tensions Hit Markets Hard
The new customs tariffs, expected to exceed 20%, will affect over 25 countries. These tariffs not only threaten traditional markets but also directly impact the cryptocurrency market. The Economic Uncertainty Index has reached record levels, pushing investors to seek safer assets.
Keep an Eye on Ethereum and Pi Network
Ethereum has fallen below the critical support level of $1,820, facing severe selling pressure. Currently trading around $1,800, ETH has lost 15% in just one week. Analysts warn that if the price drops below $1,750, it could fall further to the next support level at $1,550. Meanwhile, Pi Network has dropped 70% this month, becoming one of the worst-performing altcoins, despite integrations by Binance.
PEPE and Solana Altcoins Under Selling Pressure
PEPE, a memecoin, has fallen to $0.00000707, breaking through critical support levels. Having lost 7% in the last 24 hours, PEPE signals that large investors are transferring substantial amounts of coins to exchanges, suggesting further declines may be imminent. Solana started the week steady at $126 but has since retreated to the $120 support level. If the price fails to surpass $130, predictions indicate that SOL could fall to $110.
The new tariffs have significantly impacted cryptocurrency markets, exacerbating the conditions for investors. Key altcoins should be closely watched to minimize risks.
