Alex Carter, a crypto enthusiast, pointed out on X, “Eric Trump is once again shilling $ETH” after his recommendation to buy Ethereum at $2,800 proved unsuccessful in March. During the first quarter of 2025, Eric Trump recommended buying Ethereum at $2,800; however, following his shill, the price dropped to $1,400. Having scored a wrong prediction, Carter, who lost faith in Trump’s prediction, warned the community about the latest shill, where he says that ETH is undervalued when compared to the money supply (M2).
“ETH should already be trading above $8,000, meaning it’s currently undervalued.”
With the faulty recommendation under Trump’s belt, Carter stated, “Let’s hope his timing is better this time, especially since Trump claims Powell is ready to start cutting rates.”
ETH hitting $8,000 may be validated
However, this time around, Trump’s gut feeling about Ethereum trading above $8,000 may be validated as Key Opinion Leader Ted Pillows stated that Ethereum was traversing the same trajectory as Bitcoin did during the last cycle. In the analysis, Pillows pointed out that ETH is currently traversing the accumulation and reaccumulation phase, characterized by lower highs. “Once it breaks above this downtrend, it’s an up-only path.”, said Pillows.
ETH is about to break out from a descending broadening wedge
On the weekly chart, Ethereum is about to break out from the descending broadening wedge at $3,800. The bull pressure was mounting on Ethereum when it was priced at $2,200. From $2,200 to $3,800, the bulls took control of the market, making larger green candlesticks showing their dominance. However, after a good rally, ETH is overbought on the RSI indicator. As such, there might be a retracement, which may come in the form of a market correction.
According to a generic formula of breakout, any token that bursts out from a descending broadening wedge usually gains value by the height of the wedge, as shown by the purple arrow. Given that Ethereum satisfies this thesis, it may reach $5,600 in the short term, as it moves to $8,000, provided that Trump’s ideology comes alive.
