Ether (eth)
is traded at $ 2,420, an increase of 8.61% over the last 24 hours, after increasing sharply in the hours following former US President Donald Trump’s unexpected announcement of a ceasefire agreement between Israel and Iran, according to Coindesk Research’s technical analysis model.
The move seems to have turned the recent war -driven market anxiety and fuel to renewed bullish mood across crypto markets.
At. 22.02 UTC on June 23, Trump’s truth announced social that a full ceasefire agreement had been reached by both Israel and Iran. According to his statement, each country would break hostilities in coordinated stages: Iran would initiate a 12-hour ceasefire, followed by Israel, led to a 24-hour complete cessation of the conflict. Trump described this as a successful conclusion to what he felt a 12-day war he claimed could have escalated into a much longer and more devastating regional conflict. He praised both sides for having chosen restraint and credited the agreement to avert additional unrest in the Middle East.
The message injected a wave of optimism in the crypto market, especially for high beta assets as ether. Before the rally, ETH had already shown signs of strength, supported by stable whale accumulation. On-Kain data shows that over $ 265 million in ETH was acquired by major holders during the recent downturn, including a single wallet that bought 47,070 ETH-on-$ 113 million over a three-day period.
Ethereum’s basic network remains robust, with an average of 1 million new ETH-Tevebog Addresses created weekly since mid-May, representing an increase of 50% year over year. With volatility that is recurring and returning, dealers now see if ETH can break through the next psychological threshold of $ 2,500.
Technical analysis highlights
- ETH totaled 7.7% from $ 2,230 to $ 2,401 over the 24-hour analysis window.
- High volume support formed between $ 2,220 and $ 2,230 with the first purchase for $ 2,191.36.
- The price broke beyond $ 2,400 in the window 22: 02-22: 11, when the volume was spiked to 28,149 ETH.
- Resistance to $ 2,275 turned to support as the purchase of Momentum accelerated.
- ETH affected an intrahour high at $ 2,434.95 before entering a consolidation phase.
- Price action formed a potential bull flag when ETH traded between $ 2,390 and $ 2,402.
- Volume increased to 2.5x the 24-hour average in the last three hours of the session.
- Higher low lower confirmed bullish structure throughout the Uptrend.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
