# Ethereum Price Jumps 23%

**Published:** 2026-07-28T06:41:34.797Z  
**Topic:** Ethereum  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/1860e266-3ced-4a21-869f-53583d3fe99b

Ethereum price surges 23% in 30 days, driven by U.S.-Iran negotiations, with trading volumes up 190% and short liquidations reaching $239 million, targeting

Ethereum's price has jumped 23% in the past 30 days, outpacing other cryptocurrencies, with trading volumes spiking 190% in the past 24 hours to hit $13 billion, accounting for nearly 5% of the asset's circulating market cap [1]. This surge in price and trading volume has been driven by the resumption of U.S.-Iran negotiations, which has led to a decrease in oil prices, indicating a potential ceasefire agreement between the two countries.

| At a glance | |
|---|---|
| Price | $1,928 |
| 24h % move | 5.2% |
| Key level | $2,000 resistance |
| Catalyst | U.S.-Iran negotiations |

## What drove the move
The recent price movement has been driven by a combination of factors, including the resumption of U.S.-Iran negotiations, which has led to a decrease in oil prices, and an increase in trading volumes and short liquidations [1]. The MVRV Ratio, an on-chain metric that tracks the relationship between Ethereum's market value and its realized value, has recently made a triple bottom, providing further evidence that ETH could be about to make a strong comeback [1]. Additionally, the daily Relative Strength Index (RSI) has broken out of its own descending trendline, drawn from July 2025, and now sits just below 65 [2].

## The competitive picture
Ethereum's price movement has also been influenced by its competitors, with Bitcoin's price movement having a significant impact on the overall cryptocurrency market [2]. However, Ethereum's unique features, such as its smart contract platform, have allowed it to maintain its position as a leading cryptocurrency [3]. The Ethereum Foundation's goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud [3].

| Metric | Value |
|---|---|
| Futures open interest | $19.8 billion |
| Long liquidations dominance | 4% |
| Short liquidations | $239 million |

## What to watch
* The $2,000 resistance level, which could trigger a strong short squeeze if broken [1]
* The MVRV Ratio, which could indicate a bull market if it rises past the zero line [1]
* The daily Relative Strength Index (RSI), which could indicate overbought conditions if it reaches 70 or above [2]

The real significance of Ethereum's price movement lies in its potential to break out of its current range and reach new heights, with the $2,200 level being a key target [1]. However, the lack of confirmation from participation, with volume declining during the recovery, raises questions about the sustainability of the current price movement [2].

## Sources
1. Fxempire — [Ethereum Price Prediction: ETH On Track to Hit $2,200... | FXEmpire](https://www.fxempire.com/forecasts/article/ethereum-price-prediction-eth-on-track-to-hit-2200-as-u-s-iran-negotiations-resume-1613039)
2. BeInCrypto — [Ethereum Breaks Key Resistance Toward $2,000: How Far Will ETH Rally?](https://beincrypto.com/ethereum-price-breakout-open-interest/)
3. CoinMarketCap — [Ethereum price today, ETH to USD live price... | CoinMarketCap](https://coinmarketcap.com/currencies/ethereum/)

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Cite as: TrendWatcher, "Ethereum Price Jumps 23%", https://www.trendwatcher.in/article/1860e266-3ced-4a21-869f-53583d3fe99b