3 US Crypto Coins Surge After Trump's Tariff Announcement
3 US Crypto Coins React to Trump's EU Tariff Proposal
The cryptocurrency market saw significant movement following Donald Trump's recent announcement suggesting a 50% tariff on the European Union, effective June 1st. Three US-based cryptocurrencies – Worldcoin (WLD), Jupiter (JUP), and EOS – experienced notable price changes in response.
Worldcoin (WLD)
Worldcoin saw a dramatic 37% surge in the past two days, reaching a three-month high. This rally followed a $135 million token sale to prominent investors a16z and Bain Capital Crypto. The funding, a market-priced token purchase rather than a traditional venture round, significantly boosted WLD's circulating supply and market capitalization. This capital injection will primarily support expansion of biometric identity operations in the US, after facing regulatory hurdles in Europe and Africa.
Technical Analysis: While the current upward trend shows buying strength, traders should monitor the $1.36 support level. A break below this could trigger a correction towards $1.17 or even $1.05. Conversely, breaking the $1.64 resistance could push WLD above $1.70, a level not seen since late January.
Jupiter (JUP)
Jupiter (JUP) bucked the broader market downturn, climbing nearly 7% in the last 24 hours. This increase coincided with significant ecosystem activity, including the launch of its mobile app, a partnership with Moonpay, and the introduction of Jupiter Lend.
Technical Analysis: JUP is currently trading below the key resistance at $0.635. A successful retest and breakout could lead to gains towards $0.84, potentially even reaching $1 for the first time since February. However, if support at $0.52 fails, JUP could decline to $0.465, $0.40, or even $0.30.
EOS
EOS saw a surge following a $3 million purchase by World Liberty Financial (WLFI). This move, however, sparked controversy given WLFI's alleged prior loss of $125 million from ETH sales. While speculation of market manipulation arose, no evidence of misconduct has emerged. EOS rallied over 9% after the purchase, yet has since fallen nearly 10.5% over the last seven days.
Technical Analysis: EOS failed to break the $0.79 resistance and may further decline towards $0.72 support. A breakdown could trigger drops to $0.652 and $0.583. Conversely, reclaiming $0.79 could see EOS target $0.869 and potentially $0.97, although this would necessitate a significant market reversal.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile. Conduct thorough research and consult with a professional before making any investment decisions.
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