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 J. Trump is a US-based entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician   Once doubtful about Bitcoindominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Criticized Bitcoin and Libra on X, dubbing them as "not money"   2024 – Campaign signals potential openness to crypto-friendly reforms   2025 –  Elected as the 47th President of the United States from the Republican Party.   A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.     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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