Ethereum Soars Nearly 8% After Ceasefire, Analysts Highlight $2,800 Target

JAKARTA – The price of Ethereum (ETH) experienced a significant surge on Tuesday, soaring nearly 8% within 24 hours and briefly reaching levels above Rp 39.6 million. This increase was driven by the return of positive sentiment to the risky asset market after U.S. President Donald Trump announced a ceasefire between Iran and Israel.

This sharp rise has triggered various speculations within the crypto community, including narratives of a large short position liquidation (short squeeze). However, specific claims regarding a $112 million short squeeze as the main catalyst have not been confirmed by the available market data.

Nevertheless, technical analysts are now optimistic again. Many highlight key resistance levels around $2,800 as the next potential target if this upward momentum can be sustained. The current chart pattern is considered "bullish" by some analysts, but achieving that target remains speculative and heavily dependent on the stability of the global market in the coming days.$ETH #ETH🔥🔥🔥🔥🔥🔥