ETH Surges 3% Amid US-Iran Deal, Eyes $1,778 Resistance

Ethereum's price has been impacted by various macroeconomic and geopolitical pressures in June 2026, including escalating US-Iran tensions, a more hawkish stance from the Federal Reserve, and notable outflows from spot crypto exchange-traded funds.

However, the recent US-Iran peace deal has led to a risk-on move across assets, with Ethereum's price adding nearly 3% in the last 24 hours. This rally is driven by positioning and risk rotation rather than a shift in underlying fundamentals.

Analysts are now focusing on the upcoming Fed meeting, where new Chair Kevin Warsh will preside over his first meeting. The decline in crude oil prices could bolster Warsh's argument for rate cuts, providing some relief for cryptocurrencies.

Ethereum's technical structure has flipped bullish, with ETH trading above its 20-period and 50-period moving averages on the four-hour chart. However, the broader trend remains weak as ETH continues to trade below its 200-day moving average near $2,409.