Eric Trump Says ‘Buy the Dip’ on BTC and ETH; Here’s What Happened Last Time
Main Idea
Eric Trump encourages investors to 'buy the dip' in Bitcoin and Ethereum amid recent price declines, referencing his past call that eventually proved profitable despite initial skepticism.
Key Points
1. Bitcoin dropped below $113.5K, with RSI signaling oversold conditions after an $8K slide since late July, breaking key support at $116,700.
2. Ethereum fell under $3.6K, also entering oversold territory with an RSI of 29.87, having lost nearly $500 from its late July highs near $4,000.
3. Eric Trump previously urged buying Ethereum in February; despite an initial 37% drop to $1,470, ETH rebounded to $3,700 by mid-July, validating his call.
4. A Trump-linked firm, World Liberty Financial, reportedly sold around 5,500 ETH at deep losses during the downturn, sparking skepticism.
5. Technical indicators suggest potential short-term rebounds for both BTC and ETH, but reclaiming key resistance levels is necessary to reverse the downtrend.
Description
Eric Trump repeated his “buy the dips” call for Bitcoin and Ethereum during ongoing price corrections. Bitcoin dropped below $113.5K, with RSI signaling oversold after an $8K slide since late July. Ethereum fell under $3.6K, breaking support and extending its $500 decline amid weak momentum and oversold RSI. Eric Trump is urging investors to “buy the dips” in Bitcoin (BTC) and Ethereum (ETH), reiterating a call he first made in February in a new post on X. His post, which included the ticker sym...
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