ETH Could Rise to $1,980 as Reports Show Trump Holds $250K in ETH

• Financial records show that Donald Trump holds $250,000 in ETH.
• At press time, ETH was trading hands at $1,848.13 following a 0.05% 24-hour gain.
• In related news, Chris Bruniske tweeted that Ethereum gas fees have risen 176% in 2023.

According to a tweet by Watcher.Guru, financial records show that the former U.S. president, Donald Trump, holds a fair amount of Ethereum (ETH). According to the post, the president holds $250,000 worth of the altcoin leader.

Meanwhile, CoinMarketCap indicated that ETH was changing hands at $1,848.13. This was after the altcoin achieved a slight 0.05% gain over the past 24 hours. Subsequently, ETH’s weekly performance was pushed further into the green zone to +1.05%.

Trading volume for the cryptocurrency did not increase over the past 24 hours, however, and was down 15.44%. Consequently, the total daily trading volume for ETH stood at $3,145,343,749 at press time.

In related news, another Twitter user posted regarding the cryptocurrency today. In a post, Chris Burniske revealed that Ethereum fees have climbed 176% in 2023. This was a greater increase than that of ETH’s price during this period, which had only risen 53%.

According to Burniske, the relationship between ETH’s network fees and its price were instructive for the last bull market when fees outpaced price in 2020. This was after there was a 2-year decline.

From a technical standpoint, ETH was trading above the 9-day EMA line at press time. If the altcoin leader is able to close a daily candle above the 50-day EMA line at around $1,860.86, then it may look to flip the resistance level at $1,915 into support in the coming few days. A break above this price point will then clear a path for ETH to climb to $1,980.

On the other hand, a daily candle close below the 9-day EMA line could put the altcoin at risk of falling to $1,775 in the upcoming week. Continued sell pressure could then push the cryptocurrency’s price down to the next crucial support level at $1,685.

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