As the market storm continues to shake things with increased geopolitical tensions, Ether (ETH) is showing impressive strength as it trades above $2,540. The cryptocurrency’s hot streak is being supported by bullish technicals and healthy trading volume, both of which suggest a return of bullish momentum and investor confidence.

Siamak Masnavi, a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends influencing the crypto market, provides valuable insights into the factors driving Ether's current trajectory. Masnavi’s passion for transportation is evident from a robust academic background. SmartCitiesWorld’s founder and publisher, he has a PhD in computer science from University of London.

Masnavi’s professional background started in software engineering, serving four years in the banking sector around London and Zurich. His move from general finance writing to cryptocurrency news writing in April of 2018 gave him a base to build on for his new path. As of January 2025, Masnavi has released his work solely to researching the significance of blockchain technology, cryptocurrency regulations, and macroeconomic trends.

Combining these catalysts with ether’s recent trading activity tells a really compelling narrative. The digital currency fluctuated between a low of $2,500.43 and a high of $2,554.69, wrapping up near session highs at $2,542. Resistance was tested at $2,553 which suggests a possible ceiling for additional upside in the near term.

One of the most significant double-bottom formations formed in the $2,495–$2,510 range, which was supplemented by above-average volume. This structure indicates significant accumulation at these prices, further strengthening the digital asset’s demand floor. After touching down to $2,491.72, Ether quickly bounced back, closing up on above-average volume and confirming strong support at $2,500.

A strong hourly close on 158,553 Ether volume would signal a return of momentum. Technical indicators bolster this view. They point to positive energy as evidenced by the double-bottom formation and aggressive intraday buying support near $2,530. As of 6:05 p.m. UTC on June 16, Ether open interest stood at $35.36 billion, reflecting significant investor engagement.