Treasury Blocks Iranian Crypto as Ethereum Surges Past $1,800

The US Treasury Department has blocked $131M in Iranian cryptocurrency transactions amid escalating tensions between the two nations.

Ethereum (ETH) surged over 5% within a 24-hour period, exceeding the critical $1,800 threshold and breaking through a double bottom formation at $1,550.

The sudden price increase was accompanied by a massive liquidation event that eliminated approximately $300M in short contracts, with ETH accounting for more than one-third of these liquidations.

Crypto analyst Ali Charts noted that the SuperTrend indicator had flipped bullish on Ethereum's 3-day chart, preceding rallies of 72% and 177%

The next significant hurdle for bulls is the 200-day EMA positioned near $2,200, while an extended target of $2,400 emerges if ETH successfully breaches this level.