Ethereum Price Holds $1,600 Support: Will April’s Rally Push ETH Above $2,000?
Ethereum is showing surprising resilience. Despite market turbulence and rising geopolitical tensions, ETH is holding steady above the key $1,600 level. As of April 13, the second-largest cryptocurrency is trading around $1,606, having bounced back from recent lows near $1,450.
Technical charts show ETH is butting up against a key resistance zone—the 50-day EMA and a descending trendline near $1,625. A confirmed break above $1,625 could open the door to $1,690, and possibly even a run toward $2,000 later this month.
But in this macro climate, that’s still a big “if.”
Eric Trump-Linked Entity Dumps Ethereum at a Loss
Adding pressure to Ethereum’s outlook is a recent report that World Liberty Financial, an entity partly controlled by Eric Trump, sold 5,500 ETH for roughly $8 million—at an average price of $1,465 per coin. The reported transaction marks a 55% loss, given the entity’s original average entry at $3,259 per ETH.
This sale, flagged by Lookonchain and linked to Arkham Intelligence data, comes just two months after Eric Trump posted on X: “In my opinion, it’s a great time to add ETH. You can thank me later.”
At the time, ETH had slipped below $3,000. Since then, the asset has dropped another 48%, undercutting that call significantly. The irony isn’t lost on the crypto community. Many traders see this as emblematic of the market’s fragility, especially when even high-profile figures are forced to exit at substantial losses. The event underscores growing unease among investors amid global uncertainty.
Trump-Era Tariffs Pressure Risk Assets
Ethereum’s solid technicals are clashing with an increasingly shaky macro environment. President Trump’s latest move—slapping 145% tariffs on Chinese imports—has reignited a full-blown trade war. China responded with its own 125% counter-tariffs, and global markets aren’t taking it well.
The Nasdaq has plunged more than 21% since February, while the S&P 500 is down over 15% for the year. And while crypto was once considered a hedge, Bitcoin and Ethereum have struggled to shake off this risk-off mood. Investors are now worried about stagflation—the ugly mix of slowing growth and persistent inflation. And that’s adding to volatility across the board, from tech stocks to tokens.
Ethereum Bulls Still Have a Shot at $2,000
Even with the external pressure, Ethereum’s chart still tells a promising story. ETH is printing higher lows and has built a decent support base around $1,600. This level has proven critical—both psychologically and technically.
If bulls can punch through the $1,625–$1,690 resistance range with conviction, the next target is that round $2,000 mark—last seen in early March. A close above that zone could shift sentiment and bring in sidelined capital.
Trade Ideas:
- Long: On a breakout above $1,625, with targets at $1,690 and $2,000
- Short: If ETH slips below $1,590, targets shift to $1,545 and $1,471
- Stops: $1,580 for longs, $1,630 for shorts
Bottom Line
Ethereum is walking a tightrope—balancing strong technical support with growing macro uncertainty. The good news? The $1,600 level is holding, and April’s momentum could give ETH the push it needs to retest $2,000. But for now, all eyes are on $1,625. Break it, and the bulls might just have the upper hand again.
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