Ethereum (ETH) bounced back slightly, gaining 6.5% to reach $2,200 after it briefly fell below the $2,000 mark, a level watched by many. This recovery comes as the crypto market awaits key developments from the upcoming White House Crypto Summit.
US President Donald Trump will host the first-ever White House Crypto Summit on March 7, 2025. As per sources, the attendee list will reportedly be a select group of approximately 20 to 25 members. The Friday meeting, although deemed significant for the industry, has drawn criticism for its lack of Ethereum representation.
Ethereum Co-founder Buterin Reportedly Not Invited to Summit
The event will bring together leading crypto executives such as Michael Saylor, Brian Armstrong of Coinbase, and Robinhood CEO Vlad Tenev. But, Ethereum co-founder Vitalik Buterin has not been confirmed as invited. Some suggest that Buterin’s Russian-Canadian background could be a factor, given US political tensions with Russia.
While there is still time for last-minute confirmations, Ethereum’s apparent lack of representation at the summit could impact regulatory discussions surrounding the network. Analysts remain divided on whether ETH’s latest rebound signals the start of a bullish or bearish trend.
Related: Ethereum Price Predictions for 2025: Can ETH Hit $15K?
Ethereum’s Price Volatility
Ongoing price swings for Ethereum have kept investors nervous. The altcoin is still 40% lower than its peak in March 2024. Recent price action shows ETH recovering after finding support at $1,993. Buyers stepped in, pushing the token above $2,170.
However, market sentiment remains mixed. Traders are carefully watching key resistance levels around $2,241.
Related: Ethereum Team Eyes Poseidon Migration to Boost Zero-Knowledge Proofs
ETH Price Outlook: Is it a Temporary Bounce, or a Bullish Reversal?
One market analyst noted that Ethereum’s rebound from $1,993 is encouraging. However, it needs to stay above $2,125 to keep moving upward. The MACD indicator continues to look bearish, showing that a reversal is still uncertain.
Source: Vixo
Traders are questioning whether ETH can break past $2,241 or if this rally will lose steam, leading to another retest of support levels.
For March 6, investors are closely watching market movements. If Ethereum can’t hold its current support, another sharp drop could happen. But, a strong move above key resistance could restart bullish sentiment. This could set the stage for further gains.
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