Ethereum Price Climbs 9%, Tariff Pause Spurs Market Rally

Ethereum's price has experienced volatility, recently rising to around $1,652 before slipping below key resistance levels, largely influenced by ongoing quantitative tightening (QT) by the U.S. Federal Reserve. Analyst Benjamin Cowen notes that Ethereum's current price movements are reminiscent of its trajectory in 2019, with prolonged QT creating a challenging environment for recovery. Despite a recent uptick attributed to a tariff pause by the Trump administration, Ethereum's momentum remains under pressure, with key indicators suggesting a bearish trend persists. Furthermore, while Ethereum rose 9% in the last 24 hours, it struggles to outperform Bitcoin and the broader crypto market, which has seen increased gains. The current market scenario indicates that Ethereum may need a stronger wave of buying pressure and improved whale accumulation to reverse its downtrend. Overall, the mixed signals reflect a cautious outlook for Ethereum amidst macroeconomic challenges.