- Trump's World Liberty Financial spent $20 million USDC to purchase 6,041 ETH at an average price of $3,311, signaling confidence in Ethereum's long-term value.
- Ethereum's daily chart shows a falling wedge pattern, a bullish reversal signal, with ETH currently trading at $3,396 near the upper resistance trendline.
- A breakout above $3,526 could propel ETH towards resistance levels at $3,745 and $4,109, offering potential upside of around 17%.
- The MACD indicator is showing bullish momentum with the histogram turning green and signal line attempting to cross above the MACD line, indicating increasing buying pressure.
Date: Sun, Jan 19, 2025, 03:34 PM GMT
In today’s crypto market, all eyes might be on Donald Trump’s $TRUMP memecoin, but another moves quietly making waves. Donald Trump’s World Liberty Financial has reportedly made a massive Ethereum (ETH) accumulation. Despite ETH not recording any major gains in the past 30 days, this news has sparked renewed interest, potentially setting the stage for a breakout.
Large Accumulation By World Liberty Financial
According to Lookonchain, Trump’s World Liberty Financial spent $20 million in USDC to purchase 6,041 ETH at an average price of $3,311. This move signals confidence in ETH’s long-term value and has brought significant attention to the asset, even amid market-wide stagnation.
Is A Breakout On Horizon?
ETH’s daily chart displays a falling wedge pattern, a bullish reversal signal. After pulling back from the December 16 high of $4,109, Ethereum has consistently tested the wedge’s resistance and support lines. As of now, ETH is trading at $3,396, nearing the wedge’s upper resistance trendline, marked by the shaded area on the chart.
A successful breakout from the trendline and a move above $3,526, the upper range of this resistance box, could validate the wedge’s bullish potential. Such a breakout might propel ETH towards its next resistance levels at $3,745 and $4,109, offering an upside of around 17%.
The MACD (Moving Average Convergence Divergence) indicator on the daily timeframe is starting to show bullish momentum. The histogram is turning green, and the signal line is attempting to cross above the MACD line, which could indicate that buying pressure is increasing. Additionally, the narrowing wedge pattern aligns with the idea of reduced volatility leading to a decisive move.
Ethereum’s fundamentals, paired with this accumulation by Trump’s World Liberty, are creating a promising outlook. If ETH manages to sustain this upward momentum and break the critical resistance levels, it could signal the start of a new bullish rally.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
