Ethereum Soars 7% As Trump Blasts Fed And JPMorgan’s CEO Jamie Dimon

The Ethereum price has once again surged to $3,300, remaining steady above $3,000, as the crypto market rose 3.3% to a $3.32 trillion market capitalization.

ETH soared 7% in the last 24 hours to trade at $3,331 as of 1:57 a.m. EST on trading volume that rose 93% to $36.3 billion, signaling a recent rise in market activity.

The jump in the crypto space comes after US President Donald Trump blasted the Federal Reserve. Speaking to the Detroit Economic Club, Trump essentially accused the Fed of stealing his joy for not being more bullish about cutting interest rates.

According to Trump, “inflation is defeated,” as the new consumer price index data shows that CPI rose by 2.7% from a year ago, above the predicted 2%.

Trump said that he wants new Fed Chair Jerome Powell to lower interest rates as markets are strong.

“That’s the right way. Today, if you announce great numbers, they raise interest rates to try and kill it, so you can never really have the kind of rally you should have,” he said.

He forecasted that “we’re going to have a lot of great months, a lot of great quarters” and added that he wants the market “to go up”.

Trump Says JPMorgan Chase CEO is Wrong in Criticizing His Moves

The speech comes as the Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell has sparked an outcry, with defenders of the U.S. central bank pushing back against Trump’s efforts to exert more control over it, including JPMorgan’s Jamie Dimon.

However, Trump said he thinks JPMorgan Chase CEO Jamie Dimon is wrong in saying it’s not a great idea to chip away at the Federal Reserve’s independence by going after Chair Jerome Powell.

“We should have lower rates. Jamie Dimon probably wants higher rates. Maybe he makes more money that way,” Trump said.

The market reacted positively to Trump’s push towards lower rates, with the crypto Relative Strength Index averaging at around 60.6, according to CoinMarketCap.

US-listed spot Ethereum exchange-traded funds (ETFs) recorded their second consecutive day of inflows this week, totaling $130 million on January 13, according to Coinglass data. This is a testament to increased institutional investor activity.

Can the Ethereum price continue soaring?

Ethereum Price Analysis: Bulls Push Into Key Resistance

Ethereum investors are showing renewed confidence as price action continues to build higher lows, signaling growing bullish momentum after forming a complete cup-and-handle pattern.

The ETH price is currently trading above a rising support zone between $3,050–$3,100, within the 50-day Simple Moving Average (SMA), while facing sustained resistance near 3,450. This area has acted as a strong supply zone in recent months, with sellers repeatedly stepping in.

Below current levels, notable demand zones are visible around $2,800–$2,900, which previously triggered strong rebounds.

In the short term, Ethereum has successfully reclaimed and held above the 50-day SMA, reinforcing a bullish outlook for the short to medium term. However, the price of ETH remains below the 200-day SMA ($3,640), which continues to define the broader trend and represents a major overhead resistance.

Meanwhile, key momentum indicators support the bullish bias. The Relative Strength Index (RSI) is around 65 and rising, indicating strengthening buying pressure while still remaining below overbought conditions. This suggests room for further upside if momentum persists.

Ethereum’s Moving Average Convergence Divergence (MACD) has also turned positive, with the blue MACD line crossing above the orange signal line and the histogram expanding into positive territory. This confirms a shift toward bullish momentum following an extended bearish phase.

ETH/USD Chart Analysis: TradingView

ETH Price Eyes $3650

If bullish momentum continues to build, Ethereum could attempt a move toward the $3,650 region, where the 200-day SMA resides. A decisive break above this level would open the door for a rally toward the $4,000 psychological resistance, which aligns with a previous high-volume supply zone and an 18% rally from the current level.

Conversely, if sellers defend the current resistance, a pullback toward the $3,050 support near the 50-day SMA would be likely. A drop below could expose ETH to a deeper retracement toward the $2,900 demand zone, where buyers have previously shown strong interest.