The Ethereum price has jumped by 6% in the past 24 hours, with its move to $2,403 coming as the crypto market responds bullishly to news of a ceasefire in the Middle East.
ETH is now down by 6.5% in a week and by 10% in a fortnight, with the second-biggest coin in the market also suffering a 29% decline in a month.
These are disappointing percentages for such a fundamentally sound cryptocurrency, yet today’s lift has provided ETH with a bullish reversal that could be the start of something big.
And with Ethereum looking forward to several important upgrades this year, the long-term Ethereum price prediction continues to look very promising.
Ethereum Price Prediction: Is an ETH Pump On the Horizon As Ceasefire Eases Geopolitical Tensions?
After declining for several weeks, ETH now looks ready for a sustained period of growth, with its indicators moving into more bullish positions.
Its RSI (purple) has bounced from the 30 level, and has plenty of space to continue rising before entering an overbought position.
At the same time, Ethereum’s moving average convergence divergence (orange, blue) has levelled off, implying that it too will also beginning rising again.
This means that now is very opportune moment in which to buy ETH, and it does seem that whales have begun accumulating the token again, judging by recent transfers.
Indeed, if we look at the available institutional data, we see that Ethereum enjoyed $123.8 million in inflows across the seven days to June 23.
This puts it comfortably in second place (behind Bitcoin), well ahead of its rival Solana, which witnessed only $2.8 million in inflows during the same period.
It’s turnaround today is largely the result of the ceasefire between Iran and Israel, and if this can form the basis for a lasting peace in the region, then Ethereum and the wider market can continue rising in the near and medium term.
Of course, the situation remains highly delicate, with reports of violations already appearing.
However, it arguably remains the case that Ethereum is still in a heavily oversold position, so in the medium- and long-term it should continue to recover.
Its fundamentals arguably remain the best of any token other than Bitcoin, with the network introducing the important Pectra upgrade last month, as well as looking forward to several others on the horizon.
Based on this, we can expect the Ethereum price to return to $2,500 in the next couple of weeks, before hitting $3,000 again by the end of July.
Snorter Raises $1.2 Million for Advanced Sniping Bot: Biggest New Coin of H2?
As strong as Ethereum is likely to remain for the foreseeable future, there will be other altcoins that will outperform the market in the coming months.
Some of these will be presale coins, which can often generate lots of momentum during their sales, rallying hard when they list for the first time.
For instance, Solaxy (SOLX) is currently up by 42% in 24 hours, as of writing, having launched yesterday after a hugely successful raise.
And one ongoing sale that looks promising belongs to Snorter (SNORT), a trading bot project that has currently raised $1.2 million in its ongoing ICO.
With more than 12,000 followers on X already, Snorter is already building up a community, with investors excited by the design of its trading bot.
Its bot will provide users with automated sniping, enabling them to make buys of hot new coins, before they get too expensive.
Other features will include atomic swaps, copy trading, limit orders, and protection from rugpulls and honeypots.
This makes Snorter one of the most comprehensive trading bots in the market, with native token SNORT necessary to pay for fees.
Holders will also be able to stake SNORT, which will run on the Ethereum and Solana blockchains, giving it a wide ambit.
Interested investors can join the coin’s sale by going to the Snorter website, where it currently costs $0.0961.
This will rise again tomorrow, and will continue to rise until the sale ends.
The post Ethereum Price Prediction: Is an ETH Pump On the Horizon As Ceasefire Eases Geopolitical Tensions? appeared first on Cryptonews.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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