Ethereum News: Trump-Backed Financial Firm Triples Ethereum Holdings Ahead of White House Crypto Summit

In a move that has captured the attention of the cryptocurrency community, a financial firm backed by former U.S. President Donald Trump has significantly increased its Ethereum holdings. This comes just days before the highly anticipated White House Crypto Summit.

Donald Trump-Backed World Liberty Financial Triples Ethereum Holdings Ahead of White House Crypto Summit

Donald Trump’s World Liberty Financial increased its Ethereum holdings nearly threefold on Thursday, buying the recent ETH price dip. Ethereum hovers around $2,200, up nearly 1.5% on Thursday. Crypto traders are closely watching Trump-backed World Liberty Financial’s wallet addresses ahead of the upcoming White House Crypto Summit on Friday. Data from on-chain intelligence tracker Arkham Intel shows that the wallet tracked by the tool increased its Ether holdings nearly threefold in the past 24 hours. The firm has accumulated Ethereum through the dips in ETH price, fueling investor confidence in the altcoin.

Ethereum Sentiment Hits Yearly Low; Potential Reversal Assessed

Ethereum sentiment has reached its lowest level in a year, with bearishness growing across social media. Despite underperforming other top assets, extreme bearish sentiment has historically preceded strong reversals. Ethereum was testing key support with increased whale accumulation, signaling a potential bullish reversal. The Pectra upgrade and rising network activity could fuel Ethereum’s next breakout. Investors are uncertain, but contrarian traders are interested in this area.

Ethereum (ETH) Price Prediction and Analysis for March 6

Ethereum (ETH) is currently trading at $2,267, up 2.38% in the last 24 hours but down 19.30% over the past 30 days. The cryptocurrency shows signs of short-term recovery amidst a longer-term consolidation. Key support levels include $2,200 and $2,150, while resistance is seen in the $2,300 to $2,350 range. A sustained breakout above these resistance levels would be bullish.

Ethereum At A Crossroads: Price Testing Lower Boundary Of Key Chart Pattern

Since the beginning of this year, Ethereum has underperformed compared to major digital assets. ETH’s price action shows potential for a short-term rebound. Ali Martinez, a technical expert, highlighted a bullish development in Ethereum’s chart, forming a Parallel Channel pattern which could reignite upside momentum.