Ethereum price down almost 50% since Eric Trump's 'add ETH' endorsement – Cointelegraph

Ethereum's native token, Ether (ETH), has lost almost half of its value since Eric Trump, the son of US President Donald Trump, told his 5.7 million followers it was a “great time” for him to add the biggest altcoins to his portfolio.

President Trump ruins his son's bullish eth outlook

As of March 31, ether was traded as low as $1,820, down about 40% since Eric Trump's bullish tweet.

Meanwhile, Ether's crypto market share plummeted from 10.28% at Eric Trump's X-Post to 8.39% as of March 31st, the lowest since 2020.

Following Eric Trump's comments, a series of markets have turned blind traders.

For example, on February 21, Bybit, a well-known cryptocurrency exchange, suffered a major security breaches that lost around $1.5 billion in ether, marking its biggest cryptocurrency robbery to date.

President Trump's escalating tariff war against Canada, Mexico and China also strengthened sales across Ethereum and the broader crypto market. His 25% tariff on car imports, scheduled to be released on April 3, further weakens risk sentiment.

Michaël VanDe Poppe, co-founder of Crypto portfolio management company MN consulting firm, added that markets should predict ETH bottoms when gold prices peak, suspecting rebound in ether prices in the coming days.

Gold, a traditional risk-off asset, has surged by 17.60% per year to a record high of $3,085 per ounce.

Crypto platforms related to Trump grow eth stash

World Liberty Finance (WLFI), a decentralized finance company associated with the Trump family, moved 73,783 ETH (at the time $212.60 million) to Coinbase Prime on February 21, two days after Eric Trump's X-Post.

The close timing of these events led to speculation within the crypto community about Eric Trump's intentions. Despite that WLFI description This transfer was part of daily financial management and did not indicate an intention to sell any shares held. になったんです。 English: The first thing you can do is to find the best one to do.

WLFI purchased millions of dollars in crypto for millions of dollars ahead of a major industry event linked to President Trump.

In particular, the company acquired various tokens worth $20 million in the days leading up to the White House Script Summit on March 7th, raising eyebrows at the timing and potential strategic intent.

Similarly, critics have raised concerns about USD1, Donald Trump's new stubcoin, and cited conflicts of interest.

WLFI has more than tripled Ether Holding since its transfer on February 23rd. But even this aggressive accumulation, coupled with a wider increase in whales' ETH Holdings, has rarely governed bullish sentiment in the Ethereum market.

How low will Ethereum prices be in April?

If the technical indicator is any queue, the price of ether could fall below $1,500 in April, down about 20% from the current price level.

In particular, as of March 30, the ETH/USD pair had entered the breakdown phase of what appears to be a bear flag pattern.

This technical setup falls as high as the previous height of the decline, when prices are consolidated higher after a sharp decline and usually resolves below the lower trendline.

Applying this technical rule will bring you $1,490 as the next downside target for the April ether.

Double bottoms may start a 35% price rebound

But all hope is not lost to the bull. A sudden rebound from the current level of support could still disable the bare flag setup at around $1,800. Instead, it could help the ETH price rebound to $2,500 by April.

The double bottom usually appears after an extended downtrend, featuring two different troughs close to the same price level, followed by a breakout on top of the tentative high known as the neckline.

Related: Ethereum Futures Premium has been bumping into over a year – Is it time to buy ETH bottoms?

ETH printed two bottoms around the $1,800 support zone, bringing neckline resistance to nearly $2,094.

A decisive break above the neckline allows you to see this pattern and stage the price of recovery as much as the maximum height of the pattern. This brings ETH's upside target to around $2,500, up 35% from its current price.

This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.