Ethereum Must Maintain $2,700 Support to Reach Potential $7,000
Ethereum (ETH) recently fell below $3,000 amid market corrections linked to regulatory tensions between the US and China. Currently, it has rebounded nearly 10%, trading just above $2,800, remaining above critical support levels for potential new highs.
Key Levels for ETH
- Maintaining support around $2,750 is essential for a move towards $6,760.
- A head-and-shoulders pattern analysis suggests staying above $2,700 could target $7,000.
- Analyst caution: A break above $2,909 would indicate a more stable price environment.
- Support must remain above $2,236 for robust recovery.
Trump Family Involvement
- The Trump family’s World Liberty Financial (WLFI) purchased 1,826 ETH, totaling about $5 million.
- WLFI holds 61,114 ETH at an average price of $3,354, with current losses estimated at $31 million.
- Transfers of 86,296 ETH ($235 million) and 647 WBTC ($65.5 million) to Coinbase Prime suggest strategic positioning.
ETF Trends
- In contrast to Bitcoin ETF net outflows of $234.4 million, ETH ETFs saw inflows of $83.6 million.
- This indicates growing institutional confidence in Ethereum despite recent price fluctuations.
Currently trading at $2,819, ETH is down 21% monthly and 42% from its all-time high of $4,878 reached in 2021.
