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The Ethereum price soared 10% in the last 24 hours to trade at $2,831 as of 11:21 p.m. EST on trading volume that plunged 18% to $63.7 billion.
The ETH price surge came after Eric Trump told his 5.4 million followers on X to buy the biggest altcoin by market capitalization.
“In my opinion, it’s a great time to add $ETH,” said Trump, who is US President Donald Trump’s son. “You can thank me later.” He later removed the second part of his comment.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
The Trump family’s World Liberty Financial has recently bought ETH.
ETH’s pump comes as the overall crypto market cap rebounded 7% in the last 24 hours to reach $3.4 trillion, according to Coingecko.
Ethereum Price Aims For Recovery
The ETH price has experienced a sharp sell-off, dropping significantly below key support levels before bouncing back. The recent downward move saw the Ethereum price break below the crucial support zone, which previously acted as a strong price floor.
After hitting a low near $2,500, ETH has shown a recovery, currently trading around $2,831.81, according to GeckoTerminal data.
However, despite this bounce, the price of Ethereum remains well below both the 50-day and 200-day Simple Moving Averages (SMAs), indicating continued bearish dominance. Additionally, the price of ETH is now facing resistance near the $3,000 – $3,100 zone, a level that previously acted as support but has now turned into resistance.
The Relative Strength Index (RSI) is currently at 42.28, which is below the neutral 50 level. While not in oversold territory, it indicates weak momentum, suggesting that ETH lacks strong buying pressure.
However, the RSI has bounced from oversold levels, which may indicate a short-term recovery attempt.
ETH Price Prediction
Ethereum’s price action remains in a bearish phase but shows signs of a recovery as it climbs toward the lower boundary of the sideways pattern.
The breakdown below the key $3,000 support suggests further downside risk. If ETH fails to reclaim the $3,000 – $3,100 zone, it could face another sell-off, potentially retesting the $2,500 – $2,600 area.
On the bullish side, a decisive move above the 50-day SMA ($3,099.55) could signal a trend reversal, opening the door for a retest of the $3,300 – $3,400 resistance zone.
As the Ethereum price surges, investors are also snapping up a new AI agency crypto ICO called MIND of Pepe (MIND), which 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, says has the potential to soar 20X after its launch.
MIND Of Pepe Presale Amasses Over $4.9M – Next Big Crypto?
MIND of Pepe is a pioneering crypto project that is the first AI derivative of a major meme coin brand. It offers AI-driven opportunities for its native token holders and engages with the crypto community in a new way.
The project has attracted a huge following, with its presale closing on the $5 million milestone.
Unsurprisingly, it has already been added to the “Upcoming Tokens” list on Best Wallet (BEST), a platform known for unearthing early red-hot tokens like Pepe Unchained (PEPU) and Catslap (SLAP), both of which experienced exponential rallies after their launch.
🚨 $MIND is Now Live in Upcoming Tokens! 🚨@MINDofPepe leverages the power of AI to help users identify new trends and exciting opportunities. The self-evolving AI agent interacts across platforms to deliver real-time updates.
Built on Ethereum, $MIND offers holders exclusive… pic.twitter.com/uyXFpYka5p
— Best Wallet (@BestWalletHQ) January 14, 2025
MIND of Pepe introduces an independent AI agent that builds its presence and shares its opinions across platforms like X, Discord, and Telegram.
This AI actively engages with audiences, and shares insights about meme coins. It also analyzes social media trends in real time and pinpoints successful strategies, discards ineffective ones, as well as adjusts its approach immediately. All that intelligence is shared with token holders.
Enter. $MIND pic.twitter.com/bim3P4Fz8N
— MIND of Pepe (@MINDofPepe) February 2, 2025
Currently, MIND tokens are priced at $0.0032532. Presale participants also have the opportunity to stake MIND and earn a huge annual return of 454%. These high rewards are made possible through the project’s allocation of 15% of its token supply to staking rewards.
Buy MIND here before a price hike in about 19 hours.
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