Analyst Warns Ethereum Could Drop Further as U.S.-China Trade Tensions Escalate
04.02.2025 21:00 1 min. read
Donald Trump’s latest tariff measures targeting China and other nations triggered a sharp drop in Bitcoin and altcoins, though markets partially rebounded afterward.
However, one analyst warns that Ethereum (ETH) could face further downside if tensions between the U.S. and China continue to escalate.
Andrew Kang, co-founder of Mechanism Capital, suggested that ETH could decline to the $2,200–$2,400 range if the trade dispute worsens. He also pointed out that the $2,900–$3,000 zone may act as a short-term resistance level for Ethereum.
Meanwhile, some large investors took advantage of the market dip. A well-known whale, who had successfully timed Ethereum’s bottom in August 2024 and holds over $1 billion in crypto assets, made another major ETH purchase.
Despite recent turbulence, Ethereum has seen a 5.4% recovery in the past 24 hours, trading at $2,710 at the time of writing.
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