Ethereum Surges 21% After Trump's Tariff Pause Announcement

Ethereum prices experienced a significant surge, rising by more than 21% from recent lows following the announcement by U.S. President Donald Trump regarding a 90-day pause on tariffs for most nations, excluding China. This development brought a renewed sense of optimism to the global markets, leading to a rally across various cryptocurrencies, including Ethereum. The digital asset's price jumped from below $1,500 to above $1,650, marking a notable recovery after weeks of volatility. The positive sentiment was further bolstered by Eric Trump's social media post, which highlighted Ethereum as a good buying opportunity, although the post was later edited to reduce promotional language.

Despite this rally, Ethereum has yet to close above key resistance levels such as $1,850, which raises questions about its long-term trend. Analysts have noted that Ethereum has been trading below its realized price metric, a historical indicator of accumulation zones. This situation presents a rare buying opportunity for contrarian investors amidst the current macroeconomic uncertainties. Ethereum is currently in a consolidation phase, with bulls attempting to maintain key levels while the broader market reacts to ongoing macroeconomic events and tariff-related news.

On April 12th, the trading session for Ethereum was marked by several technical patterns. Early in the day, a golden cross appeared on the MACD, signaling a potential bullish move. This was followed by an oversold reading on the RSI, indicating extreme buying pressure that drove Ethereum to test the $1,540 support line. However, a subsequent death cross on the MACD suggested a shift in momentum and an inevitable price decline. The swing created by these technical indicators temporarily boosted the price before another death cross sent bearish signals. Currently, Ethereum is consolidating between the $1,540 support and $1,680 resistance levels. The RSI is neutral, indicating market anticipation for the next move. A probable break above $1,680 is expected if the bullish momentum continues, while a breach of the $1,540 level could lead to lower lows. Traders are advised to look for confirmations from both the MACD and RSI to determine the strength and directionality of future price movements.

The future outlook for Ethereum remains a topic of debate among analysts. With current trading just below $1,850, it is challenging for Ethereum to reclaim the critical resistance necessary for a sustained bullish trend. Predictions suggest that Ethereum may reach $1,909 by late 2025, with more ambitious models estimating $5,770 or even $10,738 by 2030. Factors such as institutional adoption, technological updates like Ethereum 2.0, and changes in macroeconomic conditions will significantly influence Ethereum's long-term growth. The asset's utility in the DeFi and NFT spheres will also play a crucial role. A confirmed bullish recovery will only be evident once Ethereum demonstrates steadfast bullish moves above the resistance levels.