According to market analysts, ETH surged 8.61% to $2,420 following former U.S. President Donald Trump's ceasefire announcement between Israel and Iran, reversing war-driven market anxiety and fueling bullish sentiment across cryptocurrencies. On-chain data reveals over $265 million in ETH was accumulated by large holders during the downturn, with network fundamentals showing 1 million new ETH wallets created weekly, a 50% year-over-year increase. Technical analysis indicates ETH rallied from $2,230 to $2,401, with resistance at $2,275 flipping to support and a potential bull flag formation emerging as traders eye the $2,500 threshold.