Ethereum (ETH) Price Prediction Today

ETH, the native token of the Ethereum blockchain, is gaining significant attention from both the pro-crypto community and former United States President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President His project appears to have accumulated a substantial amount of ETH since his inauguration.

Donald Trump’s $5 Million Investment in Ethereum (ETH)

On January 27, 2024, Arkham Intelligence, a blockchain-based security firm, revealed on X (formerly Twitter) that Trump’s World Liberty project had recently invested in Ethereum (ETH).

According to the post on X, Arkham revealed that Trump’s project had just purchased 1,623 Ethereum (ETH) worth $4.99 million. Since his inauguration, his project has purchased over a billion dollars worth of ETH, suggesting the potential of Ethereum.

$273 Million of ETH Outflow

Data from the on-chain analytics firm revealed that exchanges have witnessed an outflow of a significant $273 million worth of ETH, indicating potential accumulation. This also suggests an ideal buying opportunity with the potential to increase buying pressure and trigger a further upside rally.

With the rising interest and confidence among investors and long-term holders, ETH’s trading volume has soared by 220% in the past 24 hours. However, ETH is currently trading near $3,110 and has experienced a price drop of 7.10% during the same period.

This record trading volume suggests that investors are potentially taking advantage of the price decline.

Ethereum Price Action and Upcoming Levels

According to expert technical analysis, Ethereum’s ETH appears bullish as it has formed a bullish falling wedge price action pattern on the daily time frame, with the price currently at the lower trendline.

Based on the recent price action and historical momentum, ETH could soar by 30% to reach the $4,100 level and by 6% to reach the $3,350 level in the future.

However, this price prediction is based on both long-term and short-term ETH holders.

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