President Trump spoils son's bullish ETH outlook

Ethereum's native token, Ether (ETH) has lost almost half its value two months after Eric Trump, son of US President Donald Trump, told his 5.7 million followers

Eric Trump, the son of former US President Donald Trump, took to X (formerly Twitter) in February to share his bullish view on Ether (ETH) with his 5.7 million followers, saying that it was a “great time” to add the biggest altcoin to their portfolio.

However, two months later, ETH has lost almost half its value since then.

As of Friday, March 31,

As of Friday, March 31, Ether was trading at as low as $1,820, a nearly 40% drop since Eric Trump’s bullish tweet.

Meanwhile, Ether’s crypto market share has plunged from 10.28% at the time of Eric Trump’s X post to 8.39% as of Friday, the lowest since 2020.

A series of market headwinds have also belied traders’ hopes for an imminent rebound in Ether’s price.

For instance, on Feb. 21, Bybit, a prominent cryptocurrency exchange, suffered a major security breach in which it lost approximately $1.5 billion in Ether, marking the largest cryptocurrency heist to date.

President Trump’s escalating tariff war against Canada, Mexico, and China is also intensifying selling across Ethereum and the broader crypto market. His 25% tariffs on auto imports, which are set to go live on April 3, are further dampening risk sentiment.

Michaël van de Poppe, the co-founder of crypto portfolio management firm MN Consultancy, also cast doubt on an immediate rebound in Ether’s price in the coming days, adding that markets should instead anticipate an ETH bottom when gold price peaks.

Gold, a traditional risk-off asset, has surged 17.60% year-to-date to reach a record high of $3,085 an ounce.

Trump-linked crypto platform grows ETH stash

World Liberty Finance (WLFI), a decentralized finance firm often linked to the Trump family, disclosed a strategy transfer of 73,783 ETH (~$212.60 million at the time) to Coinbase Prime two days after Eric Trump’s X post on Feb. 21.

The close timing of these events has led to speculation within the crypto community about Eric Trump’s intentions despite WLFI’s clarification that the transfer was part of routine treasury management and not indicative of an intent to sell off their holdings.

WLFI has made several multimillion-dollar crypto purchases just ahead of key industry events tied to President Trump.

Notably, the firm acquired $20 million worth of various tokens in the days leading up to the March 7 White House Crypto Summit, raising eyebrows over the timing and potential strategic intent.

Similarly, critics have raised concerns about Donald Trump’s new stablecoin, USD1, citing a conflict of interest.

WLFI has more than tripled its Ether holdings since the Feb. 23 transfer. However, even this aggressive accumulation—coupled with a broader uptick in whales’ ETH holdings—has done little to reignite bullish sentiment in the Ethereum market.

How low can Ethereum price go in April?

If technical indicators are any cue, Ether’s price can still go below $1,500 in April, down about 20% from the current price levels.

Notably, as of March 30, the ETH/USD pair had entered the breakdown stage of what appears to be a bear flag pattern.

This technical setup forms when the price consolidates higher after a sharp downturn and typically resolves when the price breaks below the lower trendline, falling by as much as the previous decline’s height.

Applying this technical rule brings $1,490 as Ether’s next downside target in April.

Double-bottom may start 35% price rebound

But all hope isn’t lost for the bulls. A sharp rebound from the current support levels at around $1,800 may still invalidate the bear flag setup. Instead, it may trigger a double-bottom pattern, which could help ETH's price rebound toward $2,500 by April.

A double bottom typically appears after a prolonged downtrend and is characterized by two distinct troughs near the same price level, followed by a breakout above the interim high—known as the neckline.

ETH has printed two bottoms around the $1,800 support zone, with the neckline resistance near $2,094.

A decisive break above the neckline could confirm this pattern, staging the price for recovery by as much as the pattern’s maximum height. That puts ETH’s upside target at around $2,500, up 35% from the current prices.