Ethereum (ETH) struggles to regain ground after US President Donald Trump's announcement of a national crypto reserve initially excluded ETH. Technical analysts debate whether a bearish breakdown below a multi-year ascending triangle pattern is confirmed.
Ethereum (ETH) is facing a critical juncture following U.S. President Donald Trump 's announcement of a national crypto reserve . The initial exclusion of ETH from the reserve, later clarified to include both Bitcoin and Ethereum , has added uncertainty to the market. Technical analysts are now debating whether Ethereum has broken below a multi-year ascending triangle pattern, a development that could signal a prolonged correction.
The ascending triangle, typically associated with bullish breakouts, has seen ETH deviate from historical price action. Instead of pushing higher, the price has broken below the lower trendline, raising concerns about a potential bearish breakdown. This deviation from previous bullish resolutions in 2020 and 2021, if confirmed, could shift market sentiment and open the door to deeper corrections. It will be crucial to observe whether ETH can reclaim lost support or enter a prolonged downtrend.Trump's initial announcement on March 2nd, 2025, which notably excluded Ethereum, favoring XRP, SOL, and ADA, fueled speculation about ETH's future role in U.S. policy. The omission, followed by a later clarification including both BTC and ETH, coincided with ETH's breakdown below key support levels. The market's reaction suggests that Trump's wavering stance had a tangible impact on ETH's price. Adding to the pressure, Bitcoin dominance (BTC.D) has shown volatility, with a sharp decline followed by a strong recovery above 61.3%. This shift in investor sentiment indicates capital flowing back into Bitcoin, potentially at the expense of altcoins like Ethereum. With ETH's price action firmly below both the 50-day and 200-day moving averages, the RSI struggling near oversold territory, and the MACD remaining bearish, technical indicators point towards further downside risk. However, the upcoming White House Crypto Summit could bring renewed investor attention to ETH, especially if discussions favor Ethereum's role in the market. A decisive recovery above trendline resistance could challenge the current bearish outlook
Ethereum ETH Cryptocurrency Donald Trump Crypto Reserve Technical Analysis Ascending Triangle Bitcoin Dominance White House Crypto Summit
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