Ethereum Predicted to Rally 41% Despite Trump Tariffs

A prominent trader, known as Bluntz, has predicted significant rallies for Ethereum (ETH), despite the market downturn triggered by President Trump's recent tariff threats. Bluntz, who has earned the Master Trader rank on the crypto exchange Bybit, practices the Elliott Wave theory, which suggests that a bullish asset tends to witness a five-wave surge before going through a correction. According to Bluntz, Ethereum appears to be in the midst of a five-wave rally on the four-hour chart, and he predicts that Ethereum will still hit his upside target of $3,500 even though President Trump’s latest tariff threats are weighing down markets.

“Despite the trump tariff tantrum which happened legit 10 minutes after I went to sleep, I think ETH still looks ok and going to assume a range here.” Bluntz told his 318,700 followers on the social media platform X. At the time of writing, Ethereum was trading for $2,478. Bluntz's optimism for Ethereum is not limited to the cryptocurrency itself; he also anticipates a new all-time high for an ETH-based memecoin, SPX6900 (SPX). Bluntz thinks that SPX is now in an uptrend and en route to a new all-time high of $2.30 by October of this year. “Bid some SPX. Going to try and hold for all-time high.” Bluntz said. SPX refers to the S&P 500 index, which satirically aspires to “topple the S&P 500 by achieving a staggering $69 trillion market cap.”

Fellow crypto strategist Jack is also bullish on SPX, thinking that the memecoin will skyrocket if the S&P 500 itself explodes to a new all-time high. “Since nothing makes sense anyway, it is probably a good bet to own SPX6900 if SPX motors to all-time high, because well obviously SPX going to 6900 will capture mindshare and apparently that is, besides just liquidity beta, what people will argue why SPX6900 goes up.” Jack said. The trader's bullish stance on Ethereum and the memecoin reflects a broader trend of investors seeking alternative assets in response to traditional market volatility. This forecast suggests that despite the challenges posed by Trump's tariff policies, the cryptocurrency market remains robust and poised for growth.