Ethereum Surges 10% to $1,609 Amid Trump Tariff Delay

Ethereum (ETH) has recently sparked significant excitement within the crypto community due to its impressive rally. As the world's second-largest digital currency, ETH has demonstrated robust market strength by recovering key support points despite a severe bear market correction. Analysts are now predicting a substantial price expansion, with some even labeling it a "face-melting rally" that could trigger strong market reactions.

Following a sharp drop that took Ethereum below $1,400 for the first time this year, the token experienced an unexpected strong recovery. This recovery was influenced by global tensions, including new tariffs declared by Donald Trump, which led to a brief panic in the blockchain markets. However, when Trump announced a delay in the 90-day tariff policy, the ETH price rose by 10% above $1,600. Currently, ETH is trading between $1,580 and $1,680, maintaining its price at $1,609. This market recovery has restored positive market sentiment among traders, who believe Ethereum is about to experience substantial growth.

Crypto expert Ted Pillows closely monitors Ethereum’s current price developments. The token is approaching its one-month downtrend line and forming a new bullish pattern. An Ethereum price hold in the $1,550 to $1,600 zone would likely create an upward launch toward reaching the $2,000 resistance level. According to Pillows’s assessment, the $1,670 resistance mark will demonstrate a positive movement trend.

Respected trader Merlijn the Trader also highlights Ethereum's strong growth potential due to increasing volume levels. According to his analysis, the ETH price continues towards the upper limit of its two-month declining pattern. A price movement breaking $1,690 along with substantial trading volume would break down the bearish pattern, enabling fast price acceleration to $2,700. This would shock the market, as an asset surviving a Double Top pattern proves its remarkable strength amidst market bearish trends.

According to a leading ETH analyst, we may be days away from a market shock. Ethereum succeeded in finishing a double-top pattern after its decline beneath $1,432, which serves as a decisive historical support level. The completion of the established pattern by Ethereum indicates to Merlijn that the cryptocurrency has endured the harsh period and prepares it for substantial momentum. The analyst predicts that this possible surge toward $4,000 will occur unpredictably to traders during this rally, designating it as the “face-melting rally no one expects.”

Ethereum’s control over the market has shown a substantial decline during this period. The Ethereum dominance rate dropped dramatically from 20% in June 2023 to almost 8% in the following months. According to analyst Rekt Capital, the market data shows that this decline potentially reached an essential reversal point. Previous market research indicates that ETH regains strength after reaching dominance levels between 7.5% and 8.25%. Ethereum’s increased dominance would make it lead the crypto ecosystem more, lifting the entire altcoin market simultaneously. According to analysts, a bullish ETH performance would signal widespread altcoin market growth while supporting their overall predictions.

To achieve the outstanding targets set for Ethereum, the upcoming weeks will determine its destiny. The price needs to maintain a position above $1,550-$1,600 before attempting to reach the $1,670–$1,700 resistance level. Positive market sentiment, together with strong trading volume, serves as a fundamental condition for determining whether Ethereum will advance further upward or return to consolidation levels. The market’s indication of recovery, along with steadily growing altcoins, positions Ethereum to emerge as the market leader. Analysts predict ETH will surpass $4,000 and possibly reach even higher levels while investors follow the market closely.