The cryptocurrency market is experiencing a tariff relief rally, with altcoins like Fartcoin, Hyperliquid (HYPE) and Telcoin (TEL) bouncing back with double-digit gains. Fartcoin has jumped 28% in the past 24 hours, reaching $0.5801. Meanwhile, HYPE climbed 18% to $11.93, and TEL surged 22%, hitting $11.93 at the time of writing on Tuesday. 

Despite the recovery across the crypto markets, with Bitcoin (BTC) closing in on $80,000, United States (US) President Donald Trump continues to escalate the global trade war, threatening an additional 50% tariff on China.

Trump's reciprocal tariffs, announced on April 2, will be effective on Wednesday. At least 100 countries have been slapped with a blanket baseline 10% tariff on exports to the US, with some nations like China facing higher rates.

The recovery can be attributed to rumours that the President is considering a 90-day pause on the baseline tariffs. However, during a press conference with Israeli Prime Minister Benjamin Netanyahu on Monday, Trump maintained that no deals have been made and that tariffs will continue as expected. 

Fartcoin flaunts bullish cup and handle pattern

Fartcoin weathered the storm over the weekend and Monday, holding firmly to support at $0.3563. This allowed buyers to jump on the opportunity to buy relatively discounted FARTCOIN tokens and push for recovery to Tuesday's intraday highs of $0.6064. The meme coin currently sits above three key moving averages in the 12-hour timeframe, including the 50 Exponential Moving Average (EMA), the 100 EMA and the 200 EMA.

Although Fartcoin bulls face strong resistance at $0.6000, the Relative Strength Index (RSI) is moving higher in the neutral area, suggesting a stronger bullish momentum is developing. The Moving Average Convergence Divergence (MACD) indicator has also validated a buy signal in the same 12-hour chart, reinforcing the bullish grip.

FARTCOIN/USDT 12-hour chart

A cup-and-handle pattern is also awaiting confirmation. Breaking above the neckline resistance at $0.6000 would validate the pattern, potentially sending the meme coin on an 84% move to $1.1041, the pattern’s breakout target.

Hyperliquid open interest soars igniting trader interest

Following massive 24-hour liquidations in the crypto market on Monday, Hyperliquid dropped, testing the launch price at $9.9670, marking a 30% decline from last Wednesday when Trump announced reciprocal tariffs.

Meanwhile, HYPE has gained traction from the floor price and is trading at $11.9590 in the early European session on Tuesday. The RSI at 41 and pointing upwards suggests fading bearish momentum and adds credibility to the uptrend, which an upcoming buy signal from the MACD could accentuate. Traders should watch for the MACD line (blue) crossing above the signal line (red).

HYPE/USDT daily chart

Realising that Hyperliquid may run into resistance around $16.0000 (shown in red) is essential. Bulls must push to break the descending trendline resistance to affirm their grip on the token.

TEL recovers from Monday's dip 

Telcoin is among Tuesday's top gainers, relieving a battered crypto market. The Monday low of $0.0036 could mark the end of the correction, which is occurring within a descending channel. 

Bullish signals from the RSI and MACD indicators will likely continue boosting TEL's recovery this week. However, the decentralised finance (DeFi) token must break free from the channel to pave the way for a sustainable recovery, targeting $0.0075 and $0.0100, the immediate range high and TEL’s psychological resistance.

TEL/USDT daily chart 

According to a post on X, Telcoin has become the first company "to be approved for state-chartered digital asset depository under this framework in #Nebraska." This positions Telcoin as a future regulated bank-issuer of stablecoins.

Nebraska Governor Jim Pillen announced on Monday that his state has entered a new era of digital payments as it paves the way to "state-chartered digital banks that can 'mint' stablecoins." Pillen added that this is the first of its kind in the United States and "Nebraska is open for your business.”