ETH Surges 9% as Crypto Market Celebrates Trump's Ceasefire Announcement

Ether (ETH) ETH is trading astatine $2,420, up 8.61% implicit the past 24 hours, aft surging sharply successful the hours pursuing erstwhile U.S. President Donald Trump’s unexpected announcement of a ceasefire statement betwixt Israel and Iran, according to CoinDesk Research's method investigation model.

The determination appears to person reversed caller war-driven marketplace anxiety, fueling renewed bullish sentiment crossed crypto markets.

At 10:02 p.m. UTC connected June 23, Trump posted connected Truth Social that a afloat ceasefire statement had been reached by some Israel and Iran. According to his statement, each state would intermission hostilities successful coordinated stages: Iran would initiate a 12-hour ceasefire, followed by Israel, starring to a 24-hour implicit cessation of the conflict. Trump described this arsenic a palmy decision to what helium labeled a 12-day warfare — 1 helium claimed could person escalated into a overmuch longer and much devastating determination conflict. He praised some sides for choosing restraint and credited the statement with averting further turmoil successful the Middle East.

The announcement injected a question of optimism into the crypto market, particularly for high-beta assets similar ether. Prior to the rally, ETH had already been showing signs of strength, supported by dependable whale accumulation. On-chain information shows implicit $265 cardinal successful ETH was acquired by ample holders during the caller downturn, including a azygous wallet that purchased 47,070 ETH —r oughly $113 cardinal — implicit a three-day period.

Ethereum’s web fundamentals stay robust, with an mean of 1 cardinal caller ETH wallet addresses created play since mid-May, representing a 50% year-over-year increase. With volatility receding and hazard appetite returning, traders are present watching whether ETH tin interruption done the adjacent intelligence threshold of $2,500.

Technical Analysis Highlights

• ETH rallied 7.7% from $2,230 to $2,401 implicit the 24-hour investigation window.
• High-volume enactment formed betwixt $2,220 and $2,230, with archetypal buying astatine $2,191.36.
• Price broke retired supra $2,400 during the 22:02–22:11 model arsenic measurement spiked to 28,149 ETH.
• Resistance astatine $2,275 flipped into enactment arsenic buying momentum accelerated.
• ETH touched an intrahour precocious of $2,434.95 earlier entering a consolidation phase.
• Price enactment formed a imaginable bull emblem arsenic ETH traded betwixt $2,390 and $2,402.
• Volume surged to 2.5x the 24-hour mean successful the last 3 hours of the session.
• Higher lows confirmed bullish operation passim the uptrend.

Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.