Ethereum value down nearly 50% since Eric Trump’s ‘add ETH’ endorsement

Ethereum’s native token, Ether (ETH) has misplaced nearly half its worth two months after Eric Trump, son of US President Donald Trump, told his 5.7 million followers that it was a “nice time” so as to add the most important altcoin to their portfolios.

President Trump spoils son’s bullish ETH outlook

As of March 31, Ether was buying and selling for as little as $1,820, down roughly 40% since Eric Trump’s bullish tweet.

In the meantime, Ether’s crypto market share has plunged from 10.28% on the time of Eric Trump’s X put up to eight.39% as of March 31, the bottom since 2020.

A sequence of market headwinds blindsided merchants following Eric Trump’s remark.

As an illustration, on Feb. 21, Bybit, a outstanding cryptocurrency trade, suffered a serious safety breach by which it misplaced roughly $1.5 billion in Ether, marking the most important cryptocurrency heist thus far.

President Trump’s escalating tariff war in opposition to Canada, Mexico, and China additionally intensified promoting throughout Ethereum and the broader crypto market. His 25% tariffs on auto imports, that are set to go reside on April 3, are additional dampening danger sentiment.

Michaël van de Poppe, the co-founder of crypto portfolio administration agency MN Consultancy, doubted an Ether value rebound within the coming days, including that the markets ought to anticipate an ETH backside when gold value peaks.

Gold, a conventional risk-off asset, has surged 17.60% year-to-date to reach a record high of $3,085 an oz.

Trump-linked crypto platform grows ETH stash

World Liberty Finance (WLFI), a decentralized finance agency related to the Trump household, technique transferred 73,783 ETH (~$212.60 million on the time) to Coinbase Prime two days after Eric Trump’s X put up on Feb. 21.

The shut timing of those occasions has led to hypothesis inside the crypto group about Eric Trump’s intentions. That’s regardless of WLFI’s clarification that the switch was a part of routine treasury administration and never indicative of an intent to unload their holdings. ​

WLFI has made a number of multimillion-dollar crypto purchases simply forward of key business occasions tied to President Trump.

Notably, the agency acquired $20 million worth of various tokens within the days main as much as the March 7 White House Crypto Summit, elevating eyebrows over the timing and potential strategic intent.

Equally, critics have raised issues about Donald Trump’s new stablecoin, USD1, citing a battle of curiosity.

WLFI has greater than tripled its Ether holdings for the reason that Feb. 23 switch. Nonetheless, even this aggressive accumulation—coupled with a broader uptick in whales’ ETH holdings—has performed little to reignite bullish sentiment within the Ethereum market.

How low can Ethereum value go in April?

If technical indicators are any cue, Ether’s value can nonetheless go beneath $1,500 in April, down about 20% from the present value ranges.

Notably, as of March 30, the ETH/USD pair had entered the breakdown stage of what seems to be a bear flag sample.

This technical setup types when the value consolidates larger after a pointy downturn and usually resolves when the value breaks beneath the decrease trendline, falling by as a lot because the earlier decline’s peak.

Making use of this technical rule brings $1,490 as Ether’s subsequent draw back goal in April.

Double-bottom might begin 35% value rebound

However all hope isn’t misplaced for the bulls. A pointy rebound from the present assist ranges at round $1,800 should invalidate the bear flag setup. As a substitute, it could set off a double-bottom sample, which may assist ETH’s value rebound towards $2,500 by April.

A double backside usually seems after a protracted downtrend and is characterised by two distinct troughs close to the identical value degree, adopted by a breakout above the interim excessive—referred to as the neckline.

Associated: Ethereum futures premium hits 1+ year low — Is it time to buy the ETH bottom?

ETH has printed two bottoms across the $1,800 assist zone, with the neckline resistance close to $2,094.

A decisive break above the neckline may affirm this sample, staging the value for restoration by as a lot because the sample’s most peak. That places ETH’s upside goal at round $2,500, up 35% from the present costs.

This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.