As Iran and Israel trade strikes for the fifth consecutive day, the cryptocurrency prices have started to heal from the deep lacerations caused by the initial phase of the conflict. During the early morning hours of June 13, 2025 (Friday), the Israeli Defense Force (IDF) hit nuclear sites in Iran in a series of five strikes. The stock markets and cryptocurrency prices crashed while Gold and crude oil prices were not sensitive to the geopolitical situation.
Bitcoin price crashed from $108.2K to $103K just after the strikes. However, as the duo continues to wage war, the cryptocurrency prices have started to heal, and BTC is currently trading at $ 108.5 K. With an increase of 34%, Ethereum’s trading volume is now $22.72B, as the coin hovers close to $ 2.6 K.
Source: (Tradingview)
During the past few weeks, Ethereum was trading inside a tight range between $2.45K and $2.8K as it rebounded inside the bearish rising wedge. Even the turmoil of war could not dismantle ETH from this range.
As the rising wedge is not completely formed, there is a high chance that ETH could rebound off of the upper and lower trendlines a few times before it breaks out. The relative strength index (RSI) indicator reads a value of 52, which is neutral. However, the RSI is directed upwards as it heads towards the RSI line above it. If the RSI crosses above the simple moving average (SMA), then the thesis of ETH rebounding with the rising wedge trendlines may be validated, as ETH could gain value.
However, there is one hurdle that ETH has to break through. The resistance at $2.8K will be that strong obstacle that ETH might need to overcome on its way to reach the upper trendline. If ETH is to hit the upper trendline, the bulls may need to push harder.
Even the on-chain metrics look good for Ethereum. The open interest, which represents the unsettled derivatives contracts like futures, has been on the increase. This shows that more people are interested and that more money is flowing into ETH. The open interest hit 21.8B, the highest so far on June 10.
Please note that all price predictions are based on data analysis and are provided for informational purposes only. They do not constitute financial advice. Altcoin Desk is not liable for any financial decisions you make.
