- Fartcoin surpasses leading meme coins with impressive double-digit gains amid escalating tariff tensions.
- Hyperliquid sees an 18% rise in the past 24 hours following a 15% uptick in the open interest of its derivatives.
- Telcoin’s technical outlook turns positive after holding support at $0.3563, as TEL rebounds this Tuesday.
The cryptocurrency market is enjoying a tariff relief rally, with altcoins such as Fartcoin, Hyperliquid (HYPE), and Telcoin (TEL) experiencing significant rebounds. Fartcoin surged 28% over the last 24 hours, reaching $0.5801. Meanwhile, HYPE rose 18% to $11.93, while TEL skyrocketed 22%, also landing at $11.93 at the time of writing on Tuesday.
Despite this rebound in the crypto arena, with Bitcoin approaching $80,000, US President Donald Trump is intensifying the global trade conflict, threatening an additional 50% tariff on China.
The reciprocal tariffs announced on April 2 will take effect on Wednesday, imposing a blanket baseline 10% tariff on exports from at least 100 countries to the US, with some nations like China facing steeper penalties.
The recent recovery seems to stem from speculation that the President may consider a 90-day halt on the baseline tariffs. However, during a press conference with Israeli Prime Minister Benjamin Netanyahu on Monday, Trump reiterated that there are no deals in place and tariffs will proceed as scheduled.
Fartcoin displays a promising cup and handle pattern
Fartcoin steadied itself through the weekend and Monday, maintaining support at $0.3563. This positioning allowed buyers to seize the chance to purchase relatively undervalued FARTCOIN tokens, encouraging a recovery to Tuesday’s peak intraday level of $0.6064. The meme coin is currently positioned above three crucial moving averages on the 12-hour chart, including the 50 Exponential Moving Average (EMA), the 100 EMA, and the 200 EMA.
Although Fartcoin bulls face significant resistance at $0.6000, the Relative Strength Index (RSI) is trending upwards in the neutral range, indicating that stronger bullish momentum is building. The Moving Average Convergence Divergence (MACD) has also issued a buy signal on the same 12-hour chart, strengthening the bullish outlook.
FARTCOIN/USDT 12-hour chart
A confirmation of the cup-and-handle pattern is pending. Breaking through the neckline resistance at $0.6000 would validate this formation, potentially initiating an 84% climb to $1.1041, which is the breakout target of the pattern.
Hyperliquid open interest surges, drawing trader interest
In the wake of significant 24-hour liquidations in the crypto market on Monday, Hyperliquid dropped, testing its launch price at $9.9670, reflecting a 30% decline since last Wednesday when Trump unveiled the reciprocal tariffs.
However, HYPE has found support at this lower price point and is currently trading at $11.9590 during the early European session on Tuesday. The RSI is at 41 and trending upwards, suggesting that bearish momentum is diminishing and reinforcing the emerging uptrend, which could be accentuated by an upcoming buy signal from the MACD. Traders should monitor the MACD line (blue) for a potential crossover above the signal line (red).
HYPE/USDT daily chart
Aware that Hyperliquid may encounter resistance near $16.0000 (marked in red) is crucial. Bulls need to break through the descending trendline resistance to solidify control of the token.
Telcoin ranks among Tuesday’s leading gainers, providing relief to a beleaguered crypto market. The low recorded on Monday at $0.0036 could signal the conclusion of the correction occurring within a descending channel.
Positive indications from the RSI and MACD should further support TEL’s recovery this week. However, the DeFi token must break out from the channel to facilitate a durable recovery, aiming for targets at $0.0075 and $0.0100, which represent the immediate range high and TEL’s psychological resistance.
TEL/USDT daily chart
In a recent announcement, Telcoin has become the first entity “to be approved for a state-chartered digital asset depository under this framework in #Nebraska.” This positions Telcoin as a future regulated issuer of stablecoins.
Nebraska Governor Jim Pillen revealed on Monday that the state is embarking on a new era of digital payments, facilitating the establishment of “state-chartered digital banks that can ‘mint’ stablecoins.” Pillen emphasized that this initiative is unprecedented in the United States and that “Nebraska is open for your business.”