Ethereum’s Price Soars While the World Holds Its Breath! 😲💰

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What to know:

  • Ethereum, that cheeky little cryptocurrency, has jumped 3.71% to a cozy $2,614, all while the Middle East is throwing a tantrum. Who knew digital coins were so resilient?
  • Last week, digital asset funds focused on ETH decided to throw a party, attracting a whopping $583 million! That’s the biggest weekly inflow since February. Talk about a crypto comeback! 🎉
  • Meanwhile, broader markets are feeling adventurous on this fine Monday, with gold taking a breather and global equities strutting their stuff higher.

So, Ether (ETH) is strutting around above $2,600 like it owns the place, up 3.71% in the last 24 hours. It even hit a high of $2,636.76 before settling down to a respectable $2,614 during the early U.S. trading session. Not bad for a day when the world seems to be on fire!

In a delightful twist of irony, traditional markets are showing surprising resilience amidst the chaos. According to CNBC, Israel’s defense minister has warned that Tehran will “pay the price” after a fresh missile barrage. Sounds like a lovely Monday morning, doesn’t it?

But fear not! The global markets seem to be sipping their coffee and shrugging off the headlines. Gold is pulling back from its near-record highs, Tel Aviv stocks are on the rise, and European and U.S. equity futures are opening in the green. Citigroup’s Luis Costa thinks it’s all about those lingering hopes for a “faster resolution” or perhaps just a limited retaliation. Fingers crossed! 🤞

In the crypto corner, risk sentiment is back with a vengeance! All top 20 non-stablecoin cryptocurrencies are basking in the green glow on this fine Monday, and Ether is no exception. Its rally is being fueled by a growing appetite from institutional investors. Who knew they had such a taste for digital assets?

According to CoinShares’ latest “Digital Asset Fund Flows Weekly Report,” Ethereum investment products saw a staggering $583 million in inflows last week — the highest since February. Over the past nine weeks, ETH has raked in a cool $2 billion, which is about 14% of all assets under management in ether-linked funds. Not too shabby for a digital currency!

Futures markets are also reflecting this newfound enthusiasm. CoinGlass data shows ETH open interest currently stands at 13.89 million ETH, or approximately $36.32 billion. Looks like the big players are gearing up for a wild ride!

Technical Analysis Highlights

  • ETH traded in a $126.66 range, rallying from $2,510.10 to $2,636.76 (+5.05% intraday), according to CoinDesk Research’s technical analysis model. Not bad for a day’s work!
  • Price action broke through $2,550 resistance on strong volume, forming higher highs and higher lows. It’s like watching a well-choreographed dance!
  • The 05:00 GMT candle showed volume exceeding 311,000 ETH, establishing a key support zone around $2,575. Talk about a solid foundation!
  • ETH pushed above $2,600 during three consecutive green hourly candles, suggesting sustained buying activity. It’s like a green light for crypto enthusiasts!
  • A sharp drop occurred at 07:18 from $2,629.02 to $2,622.88 on heavy volume (>21,000 ETH), followed by an immediate recovery. Just a little hiccup!
  • The final 30 minutes of the session showed consolidation between $2,627 and $2,630, with an ascending triangle structure taking shape. Sounds fancy, doesn’t it?

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2025-06-16 15:16