đŁ $ETH Braces for Impact â Trumpâs Trade War Rattles Crypto Markets
After President Trump imposed new EU and Apple tariffs, Ethereum fell 3%.
Buying pressure from US spot Ether ETFs and whales has kept the market optimistic.
If ETH falls below $2,500
Ethereum (ETH) fell 3% on Friday, continuing the crypto market's drop after President Trump threatened tariffs on the EU and Apple. The leading cryptocurrency faces double-digit losses if it goes below $2,500.
If tariffs increase selling, Ethereum may fall again.
President Trump's warnings of a 50% tariff on the EU and a 25% tax on foreign Apple phones sparked a crypto market slump. The Trump statement spooked investors, sending Ethereum from a weekly high of $2,700 down below $2,600 at publishing.
ETH recovered in April after a catastrophic Q1 underperformance that saw it drop more than 50% due to Trump's retaliatory tariffs on foreign trade partners. Ethereum rose over 70% from $1,470 on April 7 to almost $2,700 on Thursday as the US reached trade partner deals and eased tariff worries.
Ethereum's drop after reaching over $2,700 this week continued a two-week pattern of increased selling pressure when prices reached $2,800.
"There is a significant concentration of investor cost basis levels around the $2,800 level," Glassnode analysts said Tuesday. "This area may see further sell-side pressure.
SoSoValue reported $110.54 million in net inflows for US spot ETH ETFs on Thursday, their largest daily inflow since February 4.
Coinglass data shows Ethereum futures liquidations of $143 million in 24 hours. Liquidated long and short positions total $103.6 million and $39.4 million.
ETH was rejected after climbing over 3% on Thursday approaching the ascending triangle pattern's $2,750 barrier. The top cryptocurrency fell 3% and is trying to maintain $2,500 and the ascending triangle's rising trendline.
ETH might lose double-digits to the $2,260â$2,100 region if it breaks current support levels. To rise again, ETH must break $2,750â2,850 barrier.
