Ethereum Price Rebounds 33% Amid Trump Tariff Concerns

10x Research has highlighted the unexpected resilience of Ethereum (ETH) in the face of market volatility. A year ago, when the market was optimistic about the launch of an Ethereum ETF, 10x Research took a cautious stance. At that time, Wall Street lacked a compelling narrative to attract institutional investors to such a product, and on-chain activity on the Ethereum network was stagnant. Consequently, ETH's price plummeted from $4000 to $1500.

However, the current market sentiment has shifted, with a rebound in Ethereum's price amidst concerns over 'Trump tariff relief.' Despite anticipating a pullback, the actual trend has shown more resilience than expected. From a technical perspective, Ethereum is nearing the apex of a large symmetrical triangle consolidation structure. This pattern suggests a potential breakout that could drive the price to $2000 or $3000. This trend could be triggered by a fundamental change or the entry of a significant buyer.

According to the analyst's forecast, the direction of the breakout will be crucial. It could either push the price to new highs or result in a significant correction. The market's reaction to this technical pattern will be closely watched by investors and analysts alike. The resilience shown by Ethereum in recent times has been a positive sign for its long-term prospects, despite the initial pessimism from 10x Research a year ago.