The post ETH Price Rebounds on Eric Trump Endorsement but Still Trails Peers appeared on BitcoinEthereumNews.com.

Ethereum prices have gained around 11% on the day to reach $2,900 during early trading in Asia on Feb. 4 before it retraced slightly. It is on the path to recovery from a crash to $2,260 on Monday following President Donald Trump’s imposition of trade tariffs on Canada, Mexico, and China. Some of those tariffs have since been suspended, resulting in a crypto market recovery. ETH prices were also boosted by Eric Trump, who said, “In my opinion, it’s a great time to add ETH” on X. However, most of the respondents mocked the comment or posted tribal FUD. “Trump nuked ETH and then his son saves it. What timeline are we even in right now,” commented Ethereum educator Anthony Sassano. In my opinion, it’s a great time to add $ETH. — Eric Trump (@EricTrump) February 3, 2025 Ethereum Woes Continue Nevertheless, Ethereum has yet to reclaim $3,000 while Bitcoin briefly tapped six-figure territory, having hit an intraday high of $102,600 in late Monday trading. This means that the ETH/BTC ratio is still around its weakest level since December 2020 at 0.028, according to Tradingview. Ethereum prices have been eroded in terms of BTC for the past two and a half years as the asset remains depressed in terms of market sentiment. “No one should freak out if we get a red daily candle now. That was an amazing close and save by the bulls,” said analyst ‘IncomeSharks’ who added, “Would be shocked if buyers didn’t take a break.” $ETH – Bulls have an hour to close this green. Such a strong recovery candle that the next daily candle is probably red just to give the buyers a break. This will also let us see how thick the order books are with buys or if it’s still thin. pic.twitter.com/FKk2ZCGvLB —…

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Filed under: News - @ February 4, 2025 6:27 am