Ethereum price today: $2,300
Ethereum experienced a surge in volatility following the US involvement in the Israel-Iran conflict over the weekend.
Ethereum investors have booked $750 million in combined realized profits and losses since the market began declining on Friday.
ETH found support at $2,110, near the lower boundary of a broader symmetrical triangle and the 100-day SMA.
Ethereum (ETH) is up 5% on Monday, showing signs of recovery amid reports that Iran has launched missiles at a United States (US) military base in Qatar. The geopolitical tensions sparked an increase in ETH volatility, resulting in a rise in realized profits and losses over the weekend.
Ethereum volatility and short-term holders selling spikes amid recovery signs
Ethereum briefly retreated from $2,300 but quickly bounced back after Iran reportedly launched missiles at a US military base in Qatar, according to Axios. The strike comes as a retaliation for the US attack on three Iranian nuclear sites over the weekend — a move that pushed ETH toward $2,100.
"The market remains at an inflection point, with digital assets straddling the line between risk-on momentum and risk-off defensiveness amid ongoing geopolitical uncertainty," wrote QCP analysts in a Monday note.
Ethereum Price Forecast: ETH finds support at $2,110, eyes recovery
After breaking below the lower boundary of a smaller symmetrical triangle and the 50-day Exponential Moving Average (EMA) on Friday, ETH declined over 10% during the weekend. It eventually bounced off the $2,110 key support level near the lower boundary of a broader symmetrical triangle and the 100-day Simple Moving Average (SMA).
