Impact of Market Correction: Analysis of 4 Altcoins as Crypto Experiences Pressure Beginning April 2025

Jakarta, Pintu News – The cryptocurrency market is facing significant pressure, with Bitcoin and most altcoins experiencing price drops to their lowest levels in months. This correction resulted in the liquidation of over $1.4 billion worth of open positions within 24 hours.

This has sparked concerns among investors about the potential for further price declines, especially in some major altcoins. This article provides an in-depth look at four altcoins under pressure and the potential risks of further bearish price movements.

Liquidation Wave and Market Sentiment

Data from Coinglass shows that in the past day, a total of $1.4 billion in open positions in the crypto market have been liquidated. Of this amount, around $1.22 billion (IDR 20.4 trillion) came from long trader positions, reflecting the market’s missed expectations of the direction of price movements.

Bitcoin was the crypto asset with the largest liquidation, reaching $483 million (IDR 8.07 trillion), followed by Ethereum and Solana at $422 million (IDR 7.05 trillion) and $74 million (IDR 1.23 trillion) respectively. In total, more than 464,000 traders were affected by this wave of liquidations.

External factors are also influencing the market, including US economic policy and fears of recession. Geopolitical tensions and the US tariff policy stance have also added pressure to global financial markets, including cryptocurrencies.

Also Read: Robert Kiyosaki Predicts Bitcoin Will Create Generational Wealth

1. Ripple (XRP): Potential for Continued Downtrend

Ripple has experienced a sharp 13% drop in the last 24 hours, with the current price hovering around IDR30,081 ($1.80). This drop takes XRP through an important support zone, raising the possibility of a continuation of the downtrend all the way to the IDR16,712 ($1) level.

Technically, XRP’s daily chart shows a bearish signal through a potential crossover between the 50-day SMA and 150-day SMA. The Relative Strength Index (RSI) has also fallen to 31, signaling oversold conditions and potential for further weakness.

2. Solana (SOL): Pressure from Institutional Investors

Solana (SOL) was also an altcoin that recorded significant selling pressure. Based on CoinShares data, Solana investment products experienced the third highest outflows among other altcoins, reflecting risk aversion by institutional investors.

Market analysts such as Ali Charts are projecting a fall in Solana price towards the IDR1,002,720 ($60) level after a bearish breakout. In recent days, several technical factors support the possibility of a SOL price drop below IDR1,504,080 ($90).

3. Dogecoin (DOGE): Vulnerable to Market Sentiment

Dogecoin , one of the popular meme coins, recorded a 13% drop and showed strong bearish signals. DOGE lost its support level at IDR2,339 ($0.14) and could potentially drop to IDR1,504 ($0.09) if the selling pressure continues.

Dogecoin’s RSI also fell to 32, confirming the short-term bearish trend. As an asset that is heavily influenced by market sentiment, DOGE shows high vulnerability to the current state of uncertainty.

4. Pi Network (PI): Technical Pressures and Drastic Declines

Pi Network (PI) experienced a 10% price drop in 24 hours, trading at around IDR935 ($0.056). The altcoin has lost more than 80% of its value since reaching its highest price.

Technically, the descending triangle pattern on the hourly chart shows that the selling pressure has not subsided. The Moving Average Convergence Divergence (MACD) indicator also reinforces the signal that the current momentum is still bearish.

Conclusion

The cryptocurrency market has faced tremendous pressure in recent days, with liquidation value reaching IDR 23.4 trillion. In such uncertain market conditions, some altcoins such as Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Pi Network (PI) are showing bearish technical trends. While this situation is not a definite signal to sell, an understanding of market conditions and risk analysis remain key for any crypto investor in making decisions.

Also Read: Crypto market pressured by trade war concerns and US interest rate policy

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Muthoni Mary/Coingape. 4 Altcoins to Sell As Crypto Market Crash Triggers $1.4B in Liquidations. Accessed April 8, 2025.
• Featured Image: Generated by AI