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Ethereum Price Stabilizes as Trump Withdraws Tariff Threats at Davos
Source: CryptoNewsNet Original Title: Ethereum Price Stabilizes as Trump Withdraws Tariff Threats at Davos Original Link: The Ethereum (ETH) market is currently navigating a period of stabilization as geopolitical headlines from the World Economic Forum in Davos continue to drive investor sentiment. After a week of high-stakes rhetoric, the second-largest cryptocurrency by market cap has found firm footing following a significant de-escalation in trade tensions.
Ethereum Price Analysis: ETH Coin Holds Key Level
According to the latest ETH price chart, Ethereum is currently testing a critical horizontal support zone around $2,900. The price has repeatedly reacted to this level over the past month.
Support: The $2,900 zone remains the primary floor for bulls; a daily close below this could open the door for a deeper correction toward $2,750.
Resistance: On the upside, the yellow horizontal line at $3,200 acts as a formidable ceiling. ETH briefly breached this level mid-month but was met with strong selling pressure.
Momentum: The Stochastic RSI indicator is currently trending toward the oversold region (below 20), suggesting that the immediate downward impulse may be reaching exhaustion.
ETH Coin Macro Drivers: The “Davos Pivot”
The recovery in digital assets was catalyzed by President Donald Trump’s latest comments in Davos. After initially threatening 10% tariffs on European nations that opposed his ambitions for Greenland, Trump announced a “framework of a future deal” with NATO Secretary General Mark Rutte.
This pivot from “force” to “diplomacy” led to a broad rebound in risk assets. While Bitcoin reclaimed the $90,000 level, Ethereum has managed to stabilize above the psychological $2,900 mark. Despite the relief rally, experts caution that the lack of specific deal details keeps a “volatility premium” in the market.
Security First in a Volatile Market
While recent market developments suggest a cooling of tensions, the sudden shifts in policy underscore the importance of self-custody. Macroeconomic shocks can lead to exchange outages or liquidity crunches. To protect your holdings, consider moving your assets into secure storage solutions.
Market Note: Whale activity remains high during this consolidation phase. Data suggests that large-scale holders accumulated approximately $360 million worth of ETH as prices dipped toward the current support levels.