‘Crypto Is The Future’
Trump shared a candlestick chart of the ETH/BTC pair showing a 1.32% gain to 0.02837, saying, “ETH is pumping hard! Great to see! Crypto is the future…”
Notably, some users were quick to point out how ETH retreated immediately following Trump’s post.
World Liberty Financial, a Trump family-backed cryptocurrency venture, where he is listed as a co-founder, holds roughly $131 million in ETH, according to DropsTab. This makes ETH the second-largest holding in the platform’s portfolio.
Analyst Flags Crucial Resistance
Meanwhile, leading cryptocurrency analyst Ali Martinez announces a conditional long position on Ethereum, entering only if the price breaks $1,850 resistance.
Notably, ETH surged to an intraday high of $1,842 late Sunday evening before pulling back sharply into the upper $1,700 range
What Do Technicals Say
The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a “Buy” signal for ETH, according to TradingView.
Conversely, the Stochastic Oscillator, which measures the position of an asset’s current closing price relative to its highest and lowest prices over a set number of periods, signaled a “Sell.”
Price Action: At the time of writing, ETH was exchanging hands at $1,805.05, up 0.02% over the last 24 hours, according to data from Benzinga Pro.
Photo courtesy: Maxim Elramsisy / Shutterstock.com
Source: Original Article
