Ethereum Price Forecast: Key Insights
Published: June 24, 2025
Author: Alejandro Arrieche
Overview
Ethereum (ETH) has experienced a significant price increase of nearly 7% within the last 24 hours, driven by a notable rise in trading volumes, which surged by 34%. This movement has resulted in the liquidation of over $100 million worth of ETH short positions, primarily triggered by a cease-fire agreement between Israel and Iran, facilitated by President Donald Trump.
Market Sentiment and Technical Analysis
The market sentiment has shown signs of recovery, as indicated by the Fear and Greed Index, which has improved from a fearful score of 37 to a more neutral score of 47. Despite this positive shift, the open interest in ETH futures has been declining since mid-June, although recent developments may encourage traders to re-enter the market.
Price Levels to Watch
For a bullish outlook, ETH needs to break above the $2,450 level, which would confirm a potential upward trend. The next significant resistance level is at $2,750; surpassing this could pave the way for a target of $3,000. The current trading patterns suggest that ETH is attempting to pull a bear trap, indicating that traders who anticipated a downturn may be at risk as prices rise.
Technical Indicators
Currently, ETH is trading below both its short-term and long-term exponential moving averages (EMAs), and the Relative Strength Index (RSI) remains below its 14-day moving average, suggesting that the trend has not yet shifted to bullish. However, an inverse head and shoulders pattern is forming, which could signal a bullish breakout if the price moves above the neckline at $2,450.
Conclusion
In summary, while Ethereum has shown a strong recovery in the short term, traders should remain cautious. The key resistance levels at $2,450 and $2,750 will be critical in determining whether ETH can sustain its upward momentum and reach the $3,000 target. Monitoring these levels and the overall market sentiment will be essential for making informed trading decisions.