Ethereum (ETH) surged 5% on Monday, rebounding sharply amid heightened geopolitical tensions following reports that Iran launched missiles at a U.S. military base in Qatar. The unrest triggered a spike in ETH volatility, leading to a notable uptick in realized gains and losses over the weekend. Despite recent price pressure and nearly $600 million in long liquidations since Friday, Ethereum continued to attract investor confidence. The asset recorded its ninth straight week of positive inflows, pulling in $124 million and pushing its cumulative total for the period to $2.2 billion—marking its strongest streak of institutional interest since mid-2021.
At the time of writing, ETH was trading at $2,392.
After reaching a recent high of $2,879, ETH witnessed a sharp correction, falling by almost 26.5% and hitting a low of $2,111.89. However, the asset did not post a daily close below the key support level of $2,150 and rebounded to $2,438. ETH faces strong resistance at $2,675 and $2,850, and for the rally to continue, it must break and sustain above these levels.
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