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The Ethereum price soared 7% in the past 24 hours to trade at $2,413 as of 1:34 a.m. EST, with trading volume surging 9% to $26 billion.
Crypto markets experienced a bounce back after Donald Trump announced a ceasefire between Iran and Israel, which cooled geopolitical tensions.
“Officially, Iran will start the CEASEFIRE and, upon the 12th Hour, Israel will start the CEASEFIRE and, upon the 24th Hour, an Official END to THE 12 DAY WAR will be saluted by the World,” Trump said in a post on his Truth Social platform.
However, neither Iran nor Israel officially endorsed Trump’s announcement, which leaves room for a possible escalation. Iran’s supreme leader, Al Khamenei, had earlier claimed that Iran does not surrender.
Those who know the Iranian people and their history know that the Iranian nation isn’t a nation that surrenders.
— Khamenei.ir (@khamenei_ir) June 23, 2025
Ethereum Price Technical Analysis Shows Signs Of Recovery
The ETH price on the daily chart displays a recent attempt at recovery after a prolonged downtrend.
From around late February to mid-May, the Ethereum price formed a rounded bottom pattern. Following this, the ETH price surged to test a key resistance zone around $2,700–$2,800 but was rejected, as GeckoTerminal data shows.
The failed breakout above this neckline has since led to a drop toward the $2,400 support region, where the price of Ethereum is currently consolidating.
Meanwhile, the 50-day Simple Moving Average (SMA) is below the 200-day SMA, which signals a bearish crossover. However, ETH is hovering just below these SMAs, suggesting that a bullish push could invalidate the bearish setup if the crypto reclaims the support of the indicators.
The Relative Strength Index (RSI) sits at 46, indicating neutral momentum, neither overbought nor oversold, which allows room for movement in either direction. The recent RSI bounce off oversold territory hints at a short-term reversal attempt.
ETH Targeting $2,800 Next?
A reclaim of the $2,500 range and a sustained breakout above the 200-day SMA would confirm bullish momentum, opening up the possibility of a potential rally toward the $2,800 resistance zone, which could lead to a 16% gain.
The ceasefire announcement by Trump acted as a catalyst, as investors interpreted it as a reduction in systemic risk.
Conversely, failure to hold $2,400 could see the price of ETH revisit the $1,900 support range. For now, the market appears cautiously bullish but hinges on breaking above the converging SMAs.
In the meantime, investors are rushing to buy Best Wallet (BEST), which popular YouTube channel 99Bitcoins, with over 723K subscribers, says is one of the cryptos that could potentially soar 100X after launch.
Best Wallet Rockets Past $13.5 Million – Buy And Stake For 103% APY
Best Wallet is quickly establishing itself as a top-tier DeFi wallet, offering a sleek, user-friendly experience that appeals to both crypto newcomers and seasoned investors.
With a massive and rapidly growing user base, it’s becoming the preferred choice in the decentralized finance ecosystem.
Still in its early stages of presale, the project has already raised over $13.52 million and is quickly hurtling towards $14 million.
🔥 Over $13M Raised and Counting! 🔥
Best Wallet is becoming the go-to for traders who want speed, simplicity, and early access to what matters:
✅ Buy new tokens early, directly in-app
✅ Buy and bridge across chains in one place
✅ Full portfolio control, no clutterDownload… pic.twitter.com/0SDNVPov6v
— Best Wallet (@BestWalletHQ) June 4, 2025
So why should you invest in Best Wallet?
With Best Wallet, you can securely store over 1,000 crypto coins, seamlessly stake assets from different blockchain networks, and swap tokens using its integrated DEX, which supports cross-chain trading.
Its ecosystem is designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space. It is powered by its native token, BEST.
One standout feature catching investors’ eyes is the “Upcoming Tokens” section. This tool helps users identify and invest in promising early-stage crypto projects.
For instance, it flagged high-performing meme coins such as Pepe Unchained (PEPU) and Catslap (SLAP), which delivered massive gains to investors.
Additionally, investors can stake BEST tokens for a generous 103% annual return. Currently, you can buy BEST tokens for $0.025225.
If you’re interested, you can purchase the BEST token now and join other early investors. But buy fast, as a presale price increase is coming in about 11 hours.
Check out BEST on its official website.
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Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- 250,000+ Monthly Active Users
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