ApeCoin (APE) is down 1.9% on Monday to $0.465, underperforming the broader market, where Bitcoin (BTC) is declining by 0.7% to $81,618. Market sentiment remains tense ahead of April 2, when Donald Trump’s reciprocal tariffs are set to take effect, marking the beginning of a full-scale global trade war—an event of unprecedented scale since the mid-19th century.
Altcoins are under significant pressure, with APE struggling to hold key levels. The token dipped to $0.419 on March 11 before rallying 40% to $0.589, but all gains have been erased since last Friday as tariff fears gripped the market. APE’s drop below the critical $0.500 support has opened the door to further downside, with potential targets at $0.250 and, in a worst-case scenario, as low as $0.100. The altcoin faces considerable bearish risks.
