Ethereum Price News: This Rally Still Has Legs as Buying Interest Persists at $2,200

Ethereum (ETH) remains the top-performing token in the top 5 within the last 30 days, surging by 6.5% as it hovers above the $2,200 level.

Comparatively, other top tokens like Bitcoin (BTC) and XRP (XRP) have booked a milder 1.4% gain and a 4.7% loss during that same period, respectively.

This marked divergence between ETH’s performance and that of its peers could indicate that institutional interest in its smart contracts platform is strong, despite the latest bear market.

Cryptos as a whole rallied yesterday, as President Donald Trump declared a ceasefire with Iran. As a result, oil prices retreated strongly below $100, shortly after hitting a local peak of $117 just a few hours before.

Market sentiment also improved dramatically, with the Fear and Greed Index rising from a recent low of 23 (Fear) to Neutral territory at 47.

Despite this shift in sentiment, ETF inflows turned positive, but remain quite weak. During the first three days of the week, these vehicles brought in $36 million from investors.

However, inflows could accelerate if ETH’s breakout above a key resistance level results in a sustained relief rally.

This On-Chain Metric Could Be An Early Signal of a Cycle Bottom

We have been tracking how a key on-chain metric called the MVRV Ratio, which tracks the relationship between the market value and the price paid for each token in circulation.

According to data from Santiment, there has been a strong uptick that could be considered an early sign of the end of this bear market.

This ratio hit its lowest print at -42% in early February, but has been progressively increasing to -27.5% two months later. This behavior is fairly similar to what we saw in April 2025, back when ETH hit a cycle bottom at around $1,400.

If this pattern repeats, it would mean that ETH hit bottom this time at $1,800, and could begin to rally over the next few weeks. The definite “buy” signal is when the MVRV rises above the zero line. Buying ETH the last time that this MVRV Ratio turned positive yielded a 70% gain in just two months.

ETH Offers 3.4x Risk-Reward Trade if $2,200 Floor Holds

Looking at the 4-hour chart, Ethereum experienced a strong boost after it hit a psychological threshold at $2,200. This is a key support we have been watching for days, and it is a healthy retest after such a breakout.

In our previous Ethereum price prediction, we identified an attractive trading opportunity with an entry at $2,200, and this position is now live and in positive territory already. There’s still a chance to jump on board if you think this bounce confirms a bullish outlook.

The target for this swing trade would be the $2,800 area, meaning a risk-reward ratio of 3.4x. As long as ETH stays above $2,200, this trade is a valid one. A potential TP1 could be set at around $2,500, to take some profits off the table in case of another “fakeout”.

The situation in Iran and the price of oil are perhaps the most relevant drivers to watch, as a break of the ceasefire or any signs of turmoil on that front could derail this rally instantly. The situation remains very fragile, but technical indicators seem to be favoring a bullish outlook for ETH in the near term.