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Ethereum price finds support near $2,900 as market jitters over Trump's Greenland tariffs subside. Here's the latest ETH/USD chart and Davos updates here.Ethereum price finds support near $2,900 as market jitters over Trump's Greenland tariffs subside. Here's the latest ETH/USD chart and Davos updates here.

Ethereum Price Stabilizes as Trump Withdraws Tariff Threats at Davos

Author: Crypto Ticker

Source: Crypto Ticker

2026/01/23 05:05

3 min read

The Ethereum ($ETH) market is currently navigating a period of stabilization as geopolitical headlines from the World Economic Forum in Davos continue to drive investor sentiment. After a week of high-stakes rhetoric, the second-largest cryptocurrency by market cap has found firm footing following a significant de-escalation in trade tensions.

Ethereum Price Analysis: ETH Coin Holds Key Level

According to the latest ETH price chart, Ethereum is currently testing a critical horizontal support zone around $2,900. As shown in the attached technical analysis, the price has repeatedly reacted to this level over the past month.

ETH/USD 2H - TradingView

Support: The $2,900 zone remains the primary floor for bulls; a daily close below this could open the door for a deeper correction toward $2,750.
Resistance: On the upside, the yellow horizontal line at $3,200 acts as a formidable ceiling. ETH briefly breached this level mid-month but was met with strong selling pressure.
Momentum: The Stochastic RSI indicator is currently trending toward the oversold region (below 20), suggesting that the immediate downward impulse may be reaching exhaustion.

Traders looking to capitalize on these price swings should compare the best crypto exchanges for the lowest fees and highest liquidity during volatile periods.

ETH Coin Macro Drivers: The "Davos Pivot"

The recovery in digital assets was catalyzed by President Donald Trump’s latest comments in Davos. After initially threatening 10% tariffs on European nations that opposed his ambitions for Greenland, Trump announced a "framework of a future deal" with NATO Secretary General Mark Rutte.

This pivot from "force" to "diplomacy" led to a broad rebound in risk assets. While Bitcoin reclaimed the $90,000 level, Ethereum has managed to stabilize above the psychological $2,900 mark. Despite the relief rally, experts at Reuters caution that the lack of specific deal details keeps a "volatility premium" in the market.

Security First in a Volatile Market

While the latest crypto news suggests a cooling of tensions, the sudden shifts in policy underscore the importance of self-custody. Macroeconomic shocks can lead to exchange outages or liquidity crunches. To protect your holdings, consider moving your assets into top-rated hardware wallets.

Market Note: Whale activity remains high during this consolidation phase. Data suggests that large-scale holders accumulated approximately $360 million worth of ETH as prices dipped toward the current support levels.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and carry significant risk.

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