ETH Gains 9% as Crypto Markets React to Trump’s Ceasefire News

Ether Climbs to $2,420 as Trump Secures Israel-Iran Ceasefire Deal

Ether (ETH) surged to $2,420 on renewed optimism in crypto markets after former U.S. President Donald Trump announced a two-stage ceasefire between Israel and Iran, signaling a potential end to the recent 12-day conflict.

ETH is trading at $2,420, up 8.61% over the past 24 hours, driven by sharp gains following Trump’s unexpected declaration, according to technical data from CoinDesk Research. The announcement appears to have eased war-related market jitters and fueled bullish sentiment across digital assets.

At 10:02 p.m. UTC on June 23, Trump posted on Truth Social that Israel and Iran had agreed to halt hostilities in phases. Under the deal, Iran would initiate a 12-hour ceasefire, followed by Israel, culminating in a full 24-hour truce. Trump called the agreement a successful resolution to what he described as a “12-day war” that could have escalated into a broader and more destructive conflict. He praised both nations for choosing diplomacy over continued fighting and credited the ceasefire with preventing further instability in the Middle East.

The announcement injected fresh momentum into crypto markets, with investors flocking to high-beta assets like ether. Even before the rally, ETH had shown resilience, supported by significant buying from large investors. On-chain analytics indicate that whales accumulated over $265 million worth of ETH during the recent price dip, including one wallet that acquired 47,070 ETH — roughly $113 million — over three days.

Ethereum’s network fundamentals remain solid. Since mid-May, the blockchain has seen around one million new ETH addresses created each week, marking a 50% increase compared to the same period last year. With volatility declining and risk appetite returning, traders are now closely monitoring whether ether can push beyond the next major psychological barrier at $2,500.

Technical Analysis Highlights

ETH climbed 7.7%, rallying from $2,230 to $2,401 over the 24-hour period.
Strong buying support emerged between $2,220 and $2,230, with initial bids seen at $2,191.36.
Ether broke above $2,400 during the 22:02–22:11 UTC window as volume spiked to 28,149 ETH.
Resistance at $2,275 flipped into support amid accelerating buying momentum.
ETH reached an intrahour peak of $2,434.95 before consolidating.
Price action formed a potential bull flag pattern as ETH traded between $2,390 and $2,402.
Trading volume in the final three hours soared to 2.5 times the daily average.
The uptrend remained intact, with higher lows confirming a bullish market structure.

As tensions ease in the Middle East and market sentiment rebounds, traders are eyeing ether’s next test of strength — the key $2,500 level.