Ethereum Coils for Breakout as US-Iran Tensions Ease

The price of Ethereum has been under pressure due to rising US-Iran tensions, but some positive headlines may lead to a breakout.

Last week, President Trump poured cold water on expectations of an earlier end to the Iran war, causing Ethereum prices to dip. However, hopes for a US-Iran deal returned after Iran sent a proposal to reopen the Strait of Hormuz within seven days. Unfortunately, Trump rejected the proposal, but recent reports suggest that he may be willing to offer concessions in exchange for progress on the nuclear program.

The Middle East and the Fed's rate hike bets will continue to influence Ethereum prices. A breakthrough in US-Iran talks could lead to a positive outcome for Ethereum, while a negative outcome may weigh heavily on the cryptocurrency.