Six of the top eight cryptocurrencies by market cap have seen modest gains Tuesday morning, with crypto majors led by Dogecoin and Cardano (ADA) notching gains of up to 5.2% and 5.9% each.

Data on CoinGecko also shows green over the past 24 hours across Bitcoin, Ethereum, BNB, and Solana. Charts show Bitcoin gaining 2.5%, Ethereum up 3.7%, with BNB and Solana up 2.5% and 3.3% respectively.

Notably, some $1 million in bearish Bitcoin options, with 1,180 contracts for $70K put options, was sighted Monday evening. Those options expire by April 25.

Ethereum, meanwhile, showed renewed momentum as it outpaced Solana for decentralized exchange volumes, with $63.02 billion over the latter’s $51.25 billion. Despite this, data from DefiLlama shows that Solana is catching up, with a 32% uptick over the week against Ethereum’s 14%.

Still, Dune data shows that Solana-based meme coin volume has dropped to just below $100 million from up to $390 million in January.

“Renewed optimism”

Those modest gains show “renewed optimism for the new quarter,” driven by “a market rebound as Trump’s tariff concerns have been fully absorbed,” Dominick John, an analyst at Kronos Research, told Decrypt.

Users on MYRIAD, the decentralized prediction market launched by Decrypt‘s parent company DASTAN, mirrored that sentiment. Those predicting a Crypto Fear and Greed Index score of below 32 by April 4, indicating Fear, dropped sharply from highs of over 37% at the weekend to around 17% by Tuesday morning, with the greater number of users now expecting a score of between 40 and 44.

John noted that the single-digit gains from the other majors are “riding the overall bullish momentum.” If no “fresh tariff developments or macroeconomic shocks” show up within the week, such a trend could persist.

The broad-based rally, while modest, comes after Bitcoin, Ethereum, and tech equities indexed in the S&P 500 “logged their worst quarterly performance in three years,” according to research from QCP Capital.

This meant a “sobering start to Q2” over a market that is “still searching” for its bullish momentum, QCP Capital wrote. Some risk over a “broad and aggressive regime” may also “deepen recession fears,” QCP noted.

Broader macroeconomic factors, such as President Donald Trump’s announcement of reciprocal tariffs, are expected to draw persisting volatility by Wednesday, followed by the release of the jobless claims report on Thursday.

These numbers could trigger a broader risk-off response that would drive crypto markets alongside risk assets.

A closely followed crypto strategist is warning that top memecoin Dogecoin (DOGE) is at risk of heading to much lower levels amid the marketwide correction.

Pseudonymous analyst Cheds tells his 353,200 followers on the social media platform X that he thinks DOGE could witness a 33% corrective move if it loses a key support area.

“DOGE $0.11-$0.12 range incoming. Mark $0.16.”

In a strategy session, Cheds explains why he thinks DOGE could tumble before potentially bottoming out.

“There’s no reason to get excited [about DOGE]. It’s a bad chart. It looks like [$0.11] is going to come and test lower. [DOGE has] a really strong descending supply trend.”

At time of writing, DOGE is trading for $0.166.

Turning to Ethereum (ETH), the crypto strategist believes that the native asset of the top smart contract protocol is headed toward its high time frame support at around $1,000.

“ETH now $1,840 from $3,400 below. Probably worth a sniff when it tags the $1,200-$1,300 range.”

At time of writing, ETH is worth $1,808.

Looking at the payments altcoin XRP, Cheds says that bulls have the upper hand as long as the coin is trading above $2. But he also says that holders should consider paring back risk if XRP moves below the key price level.

At time of writing, XRP is worth $2.12.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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