While there was a recovery in the cryptocurrency market following the declaration of a ceasefire in the Israel-Iran conflict, the price of Ethereum rose by 6% in the last 24 hours, reaching $2,403.

As the second largest cryptocurrency by market cap, Ethereum has lost 6.5% in the last week, 10% in two weeks, and 29% in a month. However, today's recorded recovery has strengthened expectations for larger price increases.

Considering that Ethereum will undergo several significant upgrades within the year, it can be said that long-term price predictions are positive.

Ethereum Price Prediction: Will ETH Experience a Major Surge?

Ethereum, which has been in a downtrend for a while, is now showing signs of recovery. Technical indicators also point to this improvement.

The RSI indicator (purple) is bouncing off the 30 level, exiting the oversold zone, and may continue to rise before entering the overbought zone. Similarly, Ethereum's exponential moving averages (orange and blue lines) are also showing an upward trend; this indicates that the price may rise again. On the other hand, whales taking advantage of the falling price levels have also started buying Ethereum.

According to the data, Ethereum received an investment inflow of $123.8 million in the seven days leading up to June 23. Thus, it became the second cryptocurrency attracting the most capital after Bitcoin, surpassing Solana, which only received $2.8 million in the same period.

This rise in Ethereum is largely attributed to the announcement of a ceasefire between Israel and Iran. If a long-term peace environment is established in the region, the overall cryptocurrency market and the price of Ethereum may continue to trend upward.

Additionally, since Ethereum is still in the oversold zone, a continuation of the recovery is expected in the medium and long term.

Ethereum, which completed the Pectra upgrade last month, has multiple upgrades planned in the coming months. Therefore, Ethereum is considered one of the most solid tokens in the market in terms of its fundamental structure.

In light of all these developments, it seems likely that the price of Ethereum will rise to $2,500 in the coming weeks and reach $3,000 by the end of July.

$1.2 Million Raised in Snorter Presale

While a strong performance is expected from Ethereum, other altcoin projects with bullish potential are also emerging in the upcoming period.

Coins, especially during the presale process, generally have the potential for price increases after being listed.

One of these, Solaxy (SOLX), hit the market yesterday after a strong presale period and gained 42% in the first 24 hours.

Another promising presale project, the trading bot Snorter (SNORT), has raised $1.2 million in its ongoing presale. Snorter is attracting the interest of investors with over 12,000 followers on the X platform.

The Snorter trading bot will allow users to perform automatic sniping transactions, enabling them to detect new tokens early and make quick purchases.

Among the other features of the bot are atomic swaps, copy trading, limit orders, and protection against fraud (rugpull) cases.

With these aspects, Snorter is a candidate to be one of the most comprehensive trading bots in the market. Transaction fees will be paid with Snorter's SNORT token.

Token holders will be able to stake SNORT tokens. The SNORT token will trade on both the Ethereum and Solana blockchains.

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