Market background and recent price trends
Price volatility:
Ethereum's price dropped from $2879 to $2111 (approximately a 22% decline), mainly affected by market panic and leveraged liquidations triggered by geopolitical tensions (especially the escalation of the Iran-Israel conflict).
From last night to today, ETH rebounded to $2410, showing some buying support, possibly related to large holders (whales) accumulating at low levels and inflows related to ETFs (with $274 million inflowing within the past 24 hours).
International and cryptocurrency news:
Geopolitical impact: U.S. airstrikes on Iranian nuclear facilities have triggered market panic, leading to a roughly 3.5% drop in the total market capitalization of the cryptocurrency market within three days, with ETH experiencing a particularly significant drop (more severe than Bitcoin, with a single-day decline exceeding 10%).
Institutional capital flow: Despite the price drop, large holders and institutional investors have accumulated ETH valued at approximately $263 million to $390 million at low levels, indicating confidence in long-term prospects.
Technical perspective: ETH is currently in a key technical area (0.5 to 0.618 Fibonacci retracement level, approximately $2300-$2500), which is a potential accumulation or reversal zone.
Market sentiment: Posts on platform X reflect traders’ complex sentiments about ETH's short-term trends. Some believe the current rebound is a short-covering rally lacking sustained momentum, while others are optimistic about the support force at key support levels (like $2380-$2480).
Current price: As of June 24, 2025, the ETH price is approximately $2410, close to the key support area ($2380-$2480), but the resistance levels above (such as $2550-$2570) may limit rebound potential.
King Ethereum: Technical analysis and entry point suggestions
Based on the current price of $2410 and market dynamics, here are potential long and short entry point suggestions:
1. Long entry points
Suggested entry points: $2380-$2480 range
Reason:
This range is an important support area at the daily level (including the key daily support at $2380 and short-term support at $2480).
Traders on platform X noted that $2480 has been repeatedly pulled back, indicating strong buying support below.
Institutions and large holders have accumulated below $2300, indicating that this area may attract buying support, sustaining price rebounds.
Target price level:
Short-term target: $2550-$2570 (0.618 Fibonacci resistance level, recent high).
Mid-term target: $2735 (short-term resistance level, technical patterns suggest a potential 25% rebound).
Stop loss advice: Below $2360 (if it drops below $2380, it may further explore down to $2200 or lower).
Trading strategy:
Build positions in batches in the $2380-$2480 range, waiting for price to break above $2500 to confirm rebound momentum.
Pay attention to trading volume and on-chain data (such as increased ETH staking or ETF inflows) to confirm buying support.
2. Short entry points
Suggested entry points: $2550-$2570 range
Reason:
This range is a strong resistance level in the short term. Traders on platform X have mentioned that there are a large number of liquidation orders near $2570, and a rebound to this area may trigger selling pressure.
Technical analysis shows that ETH has faced resistance multiple times in the $2550-$2570 area, with a recent high of $2569 followed by a pullback.
Market sentiment is cautious, and geopolitical risks and leveraged liquidations may limit ETH's breakout potential against key resistance.
Target price level:
Short-term target: $2380-$2400 (retrace to support area).
Further target: $2200-$2250 (if it breaks below $2380, it may test previous lows).
Stop loss advice: Above $2600 (if it breaks above $2570, it may challenge $2735).
Trading strategy:
Wait for price resistance signals in the $2550-$2570 range (such as high volume stagnation or reversal candlestick patterns), building short positions in batches.
Pay attention to overall market risk appetite (such as Bitcoin price trends), as ETH prices are highly correlated with BTC.
Risks and considerations
Geopolitical risk: Further escalation of the Iran-Israel conflict may lead to continued market volatility, with ETH potentially breaking below $2200 or even testing $2000.
Market volatility: ETH has recently experienced rapid declines and rebounds, with trading volume surging (for example, during the flash crash, trading volume reached five times the normal level). High volatility increases trading risks.
Technical indicators: Currently, ETH is in an oversold rebound phase but lacks strong capital inflows and sustained momentum, which may limit the rebound's extent.
External factors: Watch for Federal Reserve interest rate decisions, ETF fund flows, and Bitcoin price trends, as these may affect ETH's short-term performance.
Summary
Long: Build positions in the $2380-$2480 range, target $2550-$2570, stop loss below $2360. Suitable for short-term traders looking for rebounds.
Short: Wait for resistance signals in the $2550-$2570 range, target $2380-$2400 or lower at $2200, stop loss above $2600. Suitable for traders capturing short-term pullbacks.
Recommendation:
Short-term traders can focus on buying opportunities in the $2380-$2480 range while preparing to short at $2550-$2570.
Long-term investors may consider accumulating in batches below $2300, based on institutional capital inflows and the long-term potential of the ETH ecosystem.
Closely monitor geopolitical news and on-chain data (such as Glassnode, Santiment) to adjust strategies.
Please note that cryptocurrency trading is extremely risky. It is recommended to operate in conjunction with real-time market data, personal risk preferences, and capital management strategies. For more detailed analysis or real-time updates, consider using on-chain analysis tools or following the latest developments on platform X.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. Please conduct your own research and make careful decisions.
Disclaimer: Grok is not a financial advisor; please consult professionals. Do not share information that can identify you.
