💩Storm Brewing: Ether’s Tale of Exhausted Sellers & Trump’s ‘Liberation’ Tariffs

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💩Storm Brewing: Ether’s Tale of Exhausted Sellers & Trump’s ‘Liberation’ Tariffs

💩Storm Brewing: Ether’s Tale of Exhausted Sellers & Trump’s ‘Liberation’ Tariffs

Oh, what a tangled web we weave!

  • President Trump’s ‘Liberation Day’ tariffs loom, casting a shadow over financial markets and cryptocurrencies.
  • Ether’s technical analysis reveals a glimmer of hope amidst the chaos.

On this fateful Wednesday, the world holds its breath as President Donald Trump prepares to unleash sweeping reciprocal tariffs, his answer to the perceived injustices inflicted upon the United States by its trading partners. In this grand spectacle, even the humble ether (ETH) finds itself center stage.

As the great bard once said, “All the world’s a stage, and all the men and women merely players.” Ether, too, plays its part, revealing signs of downtrend exhaustion amidst the turmoil. Yes, dear reader, you’ve heard it right: after trailing Bitcoin like a lovesick puppy throughout the two-year crypto bull run, ETH may finally step into the spotlight if the tariffs prove less severe than anticipated.

Seller Fatigue: A Tale of Two Lows

When ether followed bitcoin’s downward spiral last week, the bears seemed poised for victory. Yet, they faltered at the 16-month low of $1,755 reached on March 11. This failure to breach the stronghold marks the first indication of seller fatigue – a harbinger of downtrend exhaustion.

Since then, prices have rallied to $1,880, hinting at a double bottom formation with the neckline resistance at $2,104. Should ether breach this barrier, a bullish breakout awaits, paving the way for a triumphant ascent to $2,400, the next resistance level according to the measured move method.

A Bullish Diversion: The Dance of the Histograms

While ether retraced its steps to the low of March 11 last week, the histogram representing the spread between the price and its 50-day simple moving average (SMA) refused to follow suit, carving a higher low. This divergence suggests that, despite the downward price movement, the momentum behind it waned.

The Line Break’s Great Reversal

In a dramatic turn of events, the three-line break chart, which had witnessed a prolonged downtrend, has now flipped bullish, signaling a seismic shift in market sentiment. This transformation is epitomized by the appearance of a green bar on the daily time frame, suggesting a potential reversal in price momentum.

However, dear reader, let us not forget that macro factors hold the power to make or break charts. Should the specter of risk aversion loom large in the wake of Trump’s tariffs, all the bullish signals may crumble, plunging ether into deeper despair.

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2025-04-02 13:44