Ethereum Gains Momentum Above $2,350 as Geopolitical Relief and ETF Demand Provide Tailwinds

Ethereum is trading firmly above $2,350, showing resilience amid ongoing US-Iran ceasefire developments that continue to ease energy market tensions and support broader risk assets. With Iran's confirmation that the Strait of Hormuz remains open for commercial shipping, oil prices have declined sharply, helping reduce inflationary pressures and improving investor sentiment across global markets.

This macro-friendly environment has boosted Ethereum alongside Bitcoin, with spot ETF inflows adding steady buying pressure. Analysts highlight Ethereum's strong network fundamentals, including high on-chain activity and growing institutional staking interest, as key drivers for its recent performance. Major altcoins like Solana are also posting modest gains, reflecting a broader recovery in the crypto sector.

While geopolitical uncertainties persist and upcoming US inflation data could influence Federal Reserve policy expectations, the current risk-on mood is providing short-term support. Traders are watching whether Ethereum can sustain its move above $2,400 or if renewed macro headwinds might trigger profit-taking in the days ahead. Overall, sentiment remains cautiously optimistic as markets balance geopolitical relief with traditional economic indicators.

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