Ethereum has reached $2,350, a 30% surge above the critical $1,800 threshold, driven by escalating US-Iran tensions. Iranian missile attacks on a US base in Saudi Arabia and President Trump's approval of ground invasion plans have rattled global markets.
Institutional investors are rotating into crypto as a hedge against traditional market instability. The US has frozen $344 million in Iran-linked crypto assets, adding further pressure.
Market signals suggest a high probability that ETH will remain above $1,800 through May 3. Traders are watching for further Middle East developments and any protocol announcements from Vitalik Buterin or the Ethereum Foundation.