On February 4th, Andrew Kang, a partner at Mechanism Capital, expressed concerns on social media regarding potential economic tensions between China and the United States. He suggested that should an **escalation in trade relations** occur, **Ethereum’s price** could retract to the **$2200-$2400** neighborhood. Kang’s previous assessments indicated that during the recent market fluctuation, Ethereum appeared to be **oversold**, presenting a possible buying opportunity, or a chance for recovery towards the **$2700** mark.
In a significant move, the Chinese State Council Customs Tariff Commission announced that effective February 10, 2025, tariffs will be levied on select imported goods from the US. The proposed tariffs include a **15% rate** on coal and liquefied natural gas, alongside a **10% tariff** applied to crude oil, agricultural machinery, high-displacement vehicles, and trucks. This news has led to an immediate decline in market sentiment, reflecting the ongoing volatility and **market uncertainty** surrounding **cryptocurrency investments**.
Source: https://en.coinotag.com/breakingnews/ethereum-price-predictions-will-chinas-trade-war-with-the-us-push-eth-back-to-2200-2400/