ETH sees $3,000 as Trump and Putin agree to start talks on a ceasefire from Ukraine conflict

With Trump's accord with Putin, Ethereum is riding the bullish market mood.

The leading cryptocurrency rallied from an intraday drop set off by US higher-than-expected CPI data.

In Q4 Goldman Sachs increased their Ethereum inventory to $480 million.

Given indications of a crossing in the Stochastic Oscillator, Ethereum must regain the $3,000 level to generate a temporary positive momentum.

Wednesday after United States (US) President Donald Trump's agreement with Russian President Vladimir Putin to start discussions to end the Russian-Ukraine conflict, Ethereum (ETH) gained 3%. From a fall brought on by inflation, the deal helped ETH and the larger cryptocurrency market bounce back.

Rising by 3.3% YoY versus predictions of 3.1%, the Core CPI set off a crypto market collapse in the early American session; Ethereum dropped by 2%.

For the crypto market, the accord was favorable as the residual conflict coincided with multiple factors set off a crypto winter in 2022.

Goldman Sachs, an investment firm, said that at the end of Q4 '24, their spot Ethereum exchange-traded fund (ETF) holdings had grown to around $480 million—about a 2000% gain from its first investment of $22 million in November 2024.

Based on Coinglass statistics, Ethereum had $58.46 million in futures liquidations during last 24 hours. With regard to liquidated long and short positions, respectively, the total came at $29.86 million and $28.60 million.

ETH is trading on the weekly chart within a significant rectangle channel running from January 2024.

Holding the major support level at $2,200 and always experiencing a rejection close to the $4,100 resistance, the top cryptocurrency stayed inside this channel all through 2024. The next long-term trend of ETH might be found by a solid weekly candlestick closure outside the rectangle channel.

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