ETHUSD Drops 5% as US-Iran Failed Talks Stoke Selloffs
Ethereum (ETHUSD) is down about 5% over the past 24 hours, trading at $2,201.49, as failed Middle East ceasefire talks stoked sell pressure across major cryptocurrencies.
The United States and Iran have failed to reach a truce deal after high-stakes talks in the Pakistani capital, with US Vice President JD Vance saying Tehran has refused to accept Washington’s terms after 21 hours of negotiations in Islamabad.
“The bad news is that we have not reached an agreement, and I think that’s bad news for Iran much more than it’s bad news for the United States of America,” Vance, the head of the US delegation, told reporters on Sunday, shortly before he left Islamabad after the highest-level meeting between Washington and Tehran since the 1979 Islamic Revolution.
The update rattled the cryptocurrency market. The unsettled conflict triggered market-wide sell pressure, with the total value of all cryptocurrencies falling 3% to $2.4 trillion. However, technical signals are mixed, with Ethereum expected to trade sideways between $2,150 and $2,300 over the next five sessions amid indecisive momentum
The world’s second-largest digital asset underperformed the broader market, closely trailing Bitcoin’s losses, as a liquidation cascade amplified the decline.
Price dipped on market-wide risk-off sentiment, triggered by escalating U.S.-Iran tensions, pulling Bitcoin and the entire crypto complex lower. The move was not ETH-specific but a reaction to macro fear, showing its continued correlation to broader market risk appetite.
A wave of liquidations exacerbated the drop. Over $110 million in ETH leveraged positions were liquidated in 24 hours, with longs making up the vast majority. This forced selling added momentum to the decline.
Technical traders reported that ETH broke below its 30-day average of $2,236.57 and is testing the 200-day average of $2,166.86. The immediate trend is bearish, confirmed by high selling volume (up 47.29%).
Investors are advised to watch for the $2,166 support level, saying a hold there could lead to range-bound action between $2,166 and $2,250.
A break below opens the door to the next Fibonacci support near $2,177. The path forward hinges on broader market sentiment stabilising. #ETHUSD Drops 5% as US-Iran Failed Talks Stoke Selloffs
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