Ethereum (ETH), could hit the $2,200–$2,500 range soon as China retaliates against US tariffs. While Trump suspended tariffs on Mexico and Canada for 30 days, tariffs on China remain active.
In retaliation to US tariffs on China, the country announced a 10% tariff on US oil and agricultural machinery, escalating tensions between the two economies. Crypto trader Andrew Kang highlighted an older X (formerly Twitter) post in which he noted that ETH dipping below $3,000 risks triggering significant leverage liquidations.
Lmao holy shit https://t.co/vb5dDPgtUK
— Andrew Kang (@Rewkang) February 3, 2025
Kang believes the “reasonable” price for ETH is around $2,200–$2,500. At the time of writing, ETH trades at $2,705.33, up 3.90% in the past 24 hours according to CoinMarketCap data. ETH fell as low as $2,100 on Monday but recovered quickly. However, the $3,000 level remains a strong resistance, and ETH has not reached a new all-time high this cycle.
Investor Moves and Technical Outlook
Meanwhile, Eric Trump, son of President Trump, stated in an X post that the current dip is a good buying opportunity for ETH. Additionally, Trump-linked World Liberty Financial purchased $5 million worth of ETH tokens during the dip.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Related: Vitalik Buterin Warns of DAO Vulnerabilities, Questions ‘Renting’ Votes
ETH Price Analysis
The daily chart shows a sharp surge in accumulation as buyers capitalized on the sell-off that pushed ETH to $2,100. However, the trend line indicates that buyer pressure has waned.
Related: Can Ethereum’s February Consistency Kickstart Altcoin Gains?
In contrast, ETH broke out from the lower Bollinger Bands and is now testing support around $2,700. In the short term, ETH could rally toward $3,000, a view that Kang agrees as well.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
