Coin Market Shakes on Trump's Ceasefire Remarks, Has the Altcoin Counterattack Begun?

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As former U.S. President Donald Trump offered an optimistic outlook on Middle East ceasefire negotiations, Bitcoin (BTC) firmly held the $74,000 level, while specific altcoins such as Ravendao, Polkadot, and Ethena exhibited an unrestrained upward rally.

According to investment specialized media FXStreet on April 17 (local time), former President Trump mentioned a high possibility of striking a good deal with Iran even amidst the tense situation of the Strait of Hormuz being blocked. Propelled by these remarks, the overall cryptocurrency market showed maximized volatility, with a massive volume exceeding $444 million being forcefully liquidated in the last 24 hours alone, including $226 million in short liquidations and $218 million in long liquidations.

Amidst this volatile market, Ravendao (RAVE)'s upward trend is truly explosive. Currently trading above $17 on Friday, Ravendao is surging vertically, far surpassing its 50-day exponential moving average (EMA) of $3.1171 and its 100-day EMA of $1.8174. The Relative Strength Index (RSI) of 78 indicates an extremely overbought condition, and the Moving Average Convergence Divergence (MACD) also maintains a strong positive value, signaling that it has entered an unstable price discovery zone where a sharp downward correction could occur at any time.

Polkadot (DOT) is struggling to recover the $1 level but remains trapped below its long-term moving averages, unable to break out of a clear downtrend structure. Although the MACD is crossing above the signal line, sending positive signals, and the RSI is hovering around 50, indicating slowing selling pressure, it must break through the 50-day EMA of $1.37 for a meaningful rise. In case of a decline, the S1 pivot point at $1.08 is expected to act as a key support level.

Ethena (ENA) is showing a steady recovery, breaking above its 50-day EMA of $0.1041. The RSI recorded 61, and the MACD entered positive territory, suggesting that short-term buying momentum is reviving. However, to discuss a full trend reversal, it still needs to overcome the strong resistance of the 100-day EMA at $0.1382 and the 200-day EMA at $0.2109.

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