Ethereum’s $2K Comeback and White House Snub

• Ethereum Founder’s name missing as crypto industry leaders gather at the White House for a defining summit.
• Regulation or Ruin? The White House summit could make or break the crypto industry.
• Stablecoins, CBDCs, and the future of finance at stake for crypto in this crucial meeting.

Ethereum made a comeback after a sharp drop to $2K. The rebound comes as Trump gears up to host several crypto industry executives at the White House Crypto Summit on March 7. As per information shared by Fox Business reporter, Eleanor Terret, the list of attendees will be reportedly exclusive, not more than 25 imdividuals.

The confirmed list of attendees includes Strategy founder Michael Saylor, Bitcoin Magazine CEO David Bailey, Paradigm co-founder Matt Huang, Exodus CEO J.P. Richardson, Multicoin Capital co-founder Kyle Samani, World Liberty Financial co-founder Zach Witkoff, Chainlink co-founder Sergey Nazarov, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken CEO Arjun Sethi.

However amidst this power-packed guest list, Ethereum co-founder Vitalik Buterin’s name appears to be missing. Some suggested that Buterin’s Russian-Canadian background could be a reason, considering US geopolitical tensions with Russia.

While there is still time for last-minute confirmations, Ethereum’s apparent lack of representation at the summit could impact regulatory discussions surrounding the network. Analysts remain divided on whether ETH’s latest rebound signals the start of a bullish or bearish trend.

Ethereum’s Bull Trap? Fake Out or Breakout

Traders are closely observing a potential “fake out” scenario amidst a bullish divergence on the Relative Strength Index (RSI). Recent price action has seen ETH dip below key support levels, leading some to believe a bearish trend is taking hold. However, technical analysis suggests a possible reversal.

A bullish divergence has emerged on the RSI, a momentum indicator, signaling that while the price has been declining, momentum is actually strengthening. This divergence often precedes a price reversal, leading many to anticipate an upward move for ETH.

In a parallel development, Ethereum CORE developer Terence said that the Sepolia testnet has just been smoothly upgraded to Pectra with a near-perfect proposal rate. Ethereum’s Pectra hard fork upgrade covers EIP-2935, EIP-7002, and EIP-7251. The mainnet upgrade is scheduled for mid-March 2025.