The crypto market lit up after Donald Trump announced a dual-phase ceasefire between Israel and Iran, calming geopolitical tensions and reviving risk appetite. Ethereum led the rally with an impressive 9% surge, jumping from $2,230 to a high of $2,434. At the time of writing, ETH price is hovering around $2,420, signaling growing confidence among investors.
Behind Ethereum’s sharp move was heavy whale accumulation during last week’s dip. Data revealed that large holders scooped up over $265 million worth of ETH, including a single wallet that acquired a staggering 47,070 ETH, worth over $113 million, within three days. This aggressive buying reinforced ETH’s resilience despite broader market jitters.
Meanwhile, Ethereum’s network continues to show strong growth. Since mid-May, the platform has averaged about one million new wallet addresses each week, marking a 50% rise year-over-year. This uptick in network activity highlights sustained interest in Ethereum’s ecosystem, even amid external uncertainties.
Trump’s unexpected June 23 announcement on Truth Social signaled a coordinated de-escalation plan between Israel and Iran. The phased ceasefire began with a 12-hour pause by Iran, followed by Israel, culminating in a full 24-hour halt. The news injected optimism into risk markets, with crypto assets bouncing back swiftly as fears of a prolonged conflict eased.
Ethereum’s breakout above $2,400 was marked by strong technical signals. Volume surged to 2.5 times the 24-hour average during the final hours of the session, while ETH formed a bull flag pattern between $2,390 and $2,402. Initial resistance at $2,275 flipped into support, with the price peaking at $2,434 before entering a brief consolidation.
As Ethereum trades in a higher low pattern, the next psychological barrier is $2,500. With network strength, whale support, and reduced macro tension aligning, traders now have their sights set on whether ETH can extend this breakout further.
Ethereum might be under slight pressure now, but some traders see this dip as a golden opportunity. According to crypto analyst AlienOvicho, ETH is approaching a potential buy zone between $2,140 and $1,970, an area that could trigger a bounce if market sentiment holds steady. While the altcoin has retraced slightly, its current price of around $2,264 shows only a mild drop, and volume is on the rise, hinting that interest is building.
If Ethereum fails to react to this key range, eyes may shift to the next major support level near $1,800, which aligns with earlier price structures. Still, if the bounce does come, a move past the $2,300 resistance could follow soon, especially with traders showing renewed confidence.
As per our Ethereum price forecast 2025, the ETH price could reach a maximum of $5,925.
According to our Ethereum Price Prediction 2030, the ETH coin price could reach a maximum of $15,575 by 2030.
As per our Ethereum price prediction 2040, Ethereum could reach a maximum price of $123,678.
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