The US government has taken part in its first major federal closure in over six years, raising questions about how the crypto market will respond. Does it reflect the January 2018 shutdown (following the five-year gap) or will digital assets be able to withstand smoothly due to this uncertainty?
Beincrypto analyzed three Altcoins that stood out during the early 2018 closures.
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Tron (TRX)
Tron wasn’t one of the top 10 cryptocurrencies seven years ago, but still held a market capitalization of $4.6 billion. During the last US closure, TRX became one of the biggest losers of the day, dropping 17% in just 24 hours as market sentiment became so bad.
This time, the conditions are different as the broader crypto market shows greater resilience. Unlike 2018, digital assets are mature and do not rely on US political events. Over the past 24 hours, the total crypto market capitalization has risen to $66 billion, improving investor confidence.
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The Tron price is currently at $0.338, and it looks at potential moves beyond the $0.345 resistance. If momentum is built, TRX can record more profits. Even if bullish strength stalls, Altcoin is expected to consolidate beyond this level of support.
aave (aave)
Aave reflects Tron’s response during the previous US government closure, with Altcoin plunging nearly 20% in a day. However, current conditions are very different. This shows the wider crypto market with greater maturity and resilience, and in the current environment it has repeatedly experienced a sudden decline.
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Chaikin Money Flow (CMF) shows a strong inflow into Aave, reflecting an increase in investor demand. These capital inflows can offset the bearish sentiment caused by political uncertainty. If momentum continues, Aave can climb to $300. This successfully violates the $2.95 resistance level, which has limited recent upward progress.
If negative feelings return, Aave may have a hard time maintaining that position. A breakdown below $277 support could open the door and drag the token below $259 for further losses. Such a decline disables bullish outlook and highlights new vulnerabilities in Aave’s price action.
ChainLink
Six years ago, Chainlink ranked 87th in the top 100 cryptocurrencies with a market capitalization of $310 million. Today, Link commands a $15 billion valuation, highlighting its prominent growth and the increased relevance of the blockchain ecosystem.
In 2018, Link fell 22% during government shutdowns, but the conditions are now different. The MACD indicator shows bullish crossovers ahead, suggesting stronger momentum. This technical setup means that Altcoin could avoid repeated previous declines and instead maintain an upward movement in the short term.
Accelerated bullishness could quickly push the link above $23.4, with potential profits reaching a resistance level of $25.81. However, if emotions shift negatively, risk remains. The decline could reduce the link to $19.91 and even $17.31, which would negate bullish outlook and encourage investor attention.
