Ethereum May Dive Lower Before Going Up
Ethereum (ETH) is up 3.9% this week to $2,627, outperforming Bitcoin (BTC), which has gained 1.0% to $96,119. Despite this, ETH has lost most of its Trump-driven rally gains from January and February, while BTC remains resilient. Some analysts believe this 21% pullback could set the stage for a strong rebound.
Institutional interest in ETH is growing, with large investors actively accumulating the asset. This also applies to spot ETFs, such as those linked to World Liberty Financial, reportedly controlled by Donald Trump.
From a technical perspective, Ethereum is resting on a strong support zone between $2,000 and $2,500, reinforced by trend support. However, BTC’s reluctance to correct and relieve overbought conditions is keeping ETH from rallying. This dynamic raises the risk of further downside for ETH before a potential reversal to the upside.
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