Ethereum (ETH) is bearish in the short term. Influenced by Israel's airstrikes on Iran, the cryptocurrency market is under overall pressure, with ETH rapidly falling from a high of around $2878 on June 12 to $2642.96, a significant drop of about 6.13% from the previous day. Technically, the RSI indicator has fallen to around the oversold zone of 32, and the MACD indicator has crossed bearish and is declining rapidly. Market panic sentiment is strong, and capital flows may turn negative. Before Iran responds and geopolitical risks ease, ETH prices are likely to be suppressed, with a risk of further testing the support level of $2550.