Ethereum price down almost 50% since Eric Trump’s ‘add ETH’ endorsement

The native token of Ethereum, Ether (ETH) lost almost half of its value two months after Eric Trump, son of American president Donald Trump, told his 5.7 million followers that it was a “good time” to add the biggest Altcoin to their wallets.

President Trump ruins his son’s prospects for eth

As of March 31, Ether was exchanging for $ 1,820, down approximately 40% from the Haussier tweet of Eric Trump.

Meanwhile, Ether’s Crypto’s market share went from 10.28% at the time of the post X of Eric Trump to 8.39% on March 31, the lowest since 2020.

A series of blind market prodigals the merchants after Eric Trump’s comment.

For example, on February 21, Bybit, an eminent cryptocurrency exchange, underwent a major security violation in which he lost about 1.5 billion dollars of ether, marking the largest robbery of cryptocurrency to date.

President Trump’s growing price war against Canada, Mexico and China have also intensified sales through Ethereum and the wider cryptography market. Its 25% prices on automotive imports, which should be posted on April 3, further reduce the feeling of risks.

Michaël Van de Poppe, the co-founder of the Crypto MN Consultancy portfolio management company, doubted an ether price rebound in the coming days, adding that the markets should anticipate an ETH background when the prices of gold prices.

Gold, a traditional risk asset, jumped 17.60% for the start of the year to reach a record summit of $ 3,085 per ounce.

The cryptographic platform linked to Trump pushes an Eth hiding place

World Liberty Finance (WLFI), a decentralized financing company associated with the Trump family, strategy transferred 73,783 ETH (~ 212.60 million dollars at the time) to Coinbase prime two days after the post X of Eric Trump on February 21.

The close calendar of these events has led to speculations within the cryptographic community on the intentions of Eric Trump. It is despite the clarification of WLFI according to which the transfer was part of the management of the routine cash and does not indicate an intention to sell their assets. ​

WLFI has made several multi -million dollar cryptography purchases just before the main industry events linked to President Trump.

In particular, the company acquired $ 20 million in various tokens in the days preceding the Summit of the White House crypto on March 7, lifting the eyebrows on the potential calendar and strategic intention.

Likewise, criticisms have raised concerns about Donald Trump’s new stablecoin, USD1, citing a conflict of interest.

WLFI has more than tripled its ether assets since the transfer of February 23. However, even this aggressive accumulation – against a broader increase in the ash’s ashs of whales – did not do much to revive the bullish feeling on the Ethereum market.

How much can Ethereum Price go in April?

If technical indicators are an index, the price of the ether can still be less than $ 1,500 in April, down approximately 20% compared to current price levels.

In particular, on March 30, the ETH / USD pair entered the breakdown stage of what seems to be a model of bear flag.

This technical configuration is formed when the price is consolidated after a net slowdown and is generally resolved when the price breaks below the lower trend line, falling as much as the height of the previous decline.

The application of this technical rule brings in $ 1,490 as the next target of Ether decrease in April.

Double-Bottom can start a price rebound of 35%

But all hope is not lost for the Bulls. A lively bounce from current support levels at around $ 1,800 can still invalidate the configuration of the bear flag. Instead, it can trigger a double low model, which could help ETH’s price to bounce around $ 2,500 by April.

A double background generally appears after a prolonged downward trend and is characterized by two separate hollows near the same price level, followed by an escape above the high interval – known as the neck.

In relation: Ethereum Futures Premium reaches a hollow of more than a year – is it time to buy the bottom of the ETH?

ETH printed two stockings around the $ 1,800 support area, with the neckline resistance almost $ 2,094.

A decisive break above the neck could confirm this model, staging the price of recovery as much as the maximum height of the pattern. This highlights ETH to around $ 2,500, up 35% compared to current prices.

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.