Ethereum (ETHUSD) is trading near $2,180, down slightly from yesterday’s sudden surge above $2,250. The announcement of the two-week peace agreement between the United States and Iran was the primary engine behind this rally. The news temporarily lifted the geopolitical risk premium, welcoming investment back into speculative assets. However, the current decline suggests that the market is slowly coming to its senses. The US-Iran truce looks fragile.
Nothing significant has really been promised yet: negotiations have stalled, and tensions in some regions remain high. Therefore, a pullback in energy prices may be temporary, as may investors’ appetite for risk. Under these circumstances, major holders tend to exit positions during spikes in liquidity, raising the odds of quotes returning to support levels.
At the same time, Ethereum has a solid structural floor beneath it. Over the past few days, wallets with balances between 10,000 and 100,000 ETH have added nearly 230,000 tokens to their holdings. The derivatives market has also struck a note of cautious optimism, with open interest in futures climbing to $32 billion and the Net Taker Volume index sitting firmly in positive territory since March. The estimated leverage ratio has risen to 0.93, suggesting that traders are willing to take on upward-biased risk.
From a technical standpoint, yesterday’s explosive rally in EURUSD gave way to a corrective decline. The Chaikin Oscillator remains in the green but has started to go down, signaling waning buyer activity. The Average Directional Index (ADX) shows that the uptrend still has some lead in the pencil, though its momentum is fading. Moreover, current readings are below 25—a sign of moderate momentum rather than a strong one.
Try out the following trading strategy:
Buy ETHUSD during the current correction near $2,175. Place Take profit at $2,325. Set Stop loss at $2,050.
This forecast remains relevant between April 9 and April 16, 2026.
