The crypto market is showing a bullish trend due to new U.S. policies. Ethereum, despite some lagging, may strengthen its position.
Current State of the Crypto Market
The inauguration of the new U.S. president has led to bullish sentiments in the crypto markets. The official coin, OFFICIAL TRUMP, has significantly impacted, pushing Solana and Bitcoin prices to new highs. XRP, ADA, LINK, and others are showing strength, while Ethereum remains confined within a narrow range.
Ethereum Growth Prospects
Ethereum is lagging behind Bitcoin, possibly due to significant institutional interest. The upcoming FOMC meetings may inject more liquidity. Historical data shows that Ethereum prices typically rise from January to June. Additionally, U.S. administration policies might benefit Ethereum through the expansion of NFT and DeFi platforms.
Trends and Forecasts
The Ethereum price has recently seen a slight rise, remaining within a bearish pattern, forming lower highs and lows. Prices are stuck in a descending triangle, sustaining bearish sentiments. However, buying volumes are overshadowed by selling ones, potentially leading to a pullback below $3,200. In the long term, Ethereum remains under bullish influence, keeping high targets active for 2025.
Ethereum might strengthen its influence on the crypto market with support from institutional and political factors, although short-term trades show conflicting signals.
