Ether (ETH)
Negotiates to $ 2,420, up 8.61% in the last 24 hours, after having increased sharply in the hours that followed the unexpected announcement by former American president Donald Trump of a cease-fire agreement between Israel and Iran, according to the Coindek Research technical analysis model.
This decision seems to have reversed a recent anxiety of the war -based market, fueling a bullish feeling renewed on the cryptographic markets.
At 10:02 p.m. UTC on June 23, Trump posted on Truth Social that a complete cease-fire agreement had been concluded by Israel and Iran. According to its declaration, each country suspected hostilities at coordinated stages: Iran would initiate a 12-hour ceasefire, followed by Israel, leading to a complete cessation of 24 hours of the conflict. Trump described this as a successful conclusion of what he labeled a 12 -day war – the one who, according to him, could have transformed into a much longer and more devastating regional conflict. He congratulated the two parties for choosing the restraint and credited the agreement to avoid other disorders in the Middle East.
The announcement injected a wave of optimism into the cryptography market, especially for high assets such as ether. Before the rally, ETH had already shown signs of strength, supported by a stable accumulation of whales. The data on the chain show that more than $ 265 million ETH were acquired by major holders during the recent slowdown, including a single portfolio which bought 47,070 ETH – more than $ 113 million – over a period of three days.
The fundamentals of the Ethereum network remain robust, with an average of 1 million new ethnic portfolio addresses created each week since mid-May, representing an increase of 50% from one year to the next. With volatility in smuggling and the return of risk appetite, traders now look at if the ETH can unravel the next psychological threshold of $ 2,500.
Strengths of technical analysis
- ETH gathered 7.7% from $ 2,230 to $ 2,401 compared to the analysis window 24 hours a day.
- High volume support formed between $ 2,220 and $ 2,230, with initial purchases at $ 2,191.36.
- The price broke out above $ 2,400 during the window of 22: 02–22: 11 as the volume increased to 28,149 ETH.
- The resistance at $ 2,275 overturned in support as the purchase has accelerated.
- ETH affected an intrahour summit of $ 2,434.95 before entering a consolidation phase.
- The price action has formed a potential bull flag while ETH exchanged between $ 2,390 and $ 2,402.
- The volume has increased at 2.5 times the average of 24 hours in the last three hours of the session.
- Higher hollows have confirmed the upward structure throughout the upward trend.
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