Ethereum rallies 4% as Trump halts Iran strikes, offsetting whale dump

• Ethereum price rose to above $2,170 after Trump delayed US strikes on Iran.
• An Ethereum OG whale sold 15,002 $ETH for about $30.97 million via Coinbase.
• Ethereum price hovers in the $2,000-$2,200 range.

Ethereum price pumped more than 4% in a sharp U-turn as downside pressure quickly gave way to upside movement amid market reaction to a fresh announcement by President Donald Trump.

However, the altcoin’s price remained near the critical $2,000 level amid notable whale offloading in the hours prior to Trump’s post on Monday.

Ethereum bounces sharply amid Trump announcement

Ethereum traded higher in early US trading hours, moving sharply from around $2,060 to above $2,170 as bulls attempted to recover from intraday lows.

The altcoin hovered near $2,150, boasting a 24-hour trading volume of over $19 billion.

A look at the markets shows Ethereum’s move to highs of $2,170 coincided with Bitcoin’s sudden uptick to the $70,000 area.

BTC had dipped below $68,000 as the broader risk‑on mood suffered the sentiment around events in Iran and the Middle East.

However, President Trump’s announcement of a five-day pause in US strikes on Iran on Monday appeared to bolster buyers.

“The United States and Iran have had productive discussions over the past two days toward fully resolving hostilities in the Middle East. As talks continue this week, I’ve ordered a five-day pause on any military strikes against Iranian energy infrastructure, contingent on progress,” Trump posted on Truth Social.

Stocks also saw an uptick, economist Mohamed El-Erian pointed out via X.

Market prices performed a massive U-turn just minutes after the post below as President Trump announced that the U.S. has held “very productive and constructive conversations” with Iran, resulting in a five-day postponement of “any and all military strikes against Iranian power…

— Mohamed A. El-Erian (@elerianm) March 23, 2026

$ETH prices had dropped as OG whale sold $31M $ETH

On Monday, an Ethereum OG wallet labeled “0xa2F…F85A” moved 15,002 $ETH to US-based crypto exchange Coinbase.

The total value of the coins stood at about $30.97 million at the time, on‑chain analytics platform Lookonchain noted.

An #EthereumOG (0xa2F6) just sold 15,002 $ETH($30.97M)!

This OG previously received 172,700 $ETH 10 years ago (worth $2.2M at the time, now $356M) at a price of $12.83. pic.twitter.com/wZ4PdUGWwt

— Lookonchain (@lookonchain) March 23, 2026

The wallet originally accumulated around 172,700 $ETH about a decade ago, when each token traded near $12.83, implying an initial outlay of roughly $2.2 million.

At current prices near the low‑$2,000s, that full stash would be valued at roughly $353 million, indicating substantial paper gains realized over the years.

Despite the huge cash out, the address still holds over 14,800 Ether and is one of the network’s long‑term holders.

In a separate transaction, another whale sold 5,000 $ETH worth about $10.3 million. The transfer happened at roughly $2,063 per token, slightly lower than the current price of $ETH.

This whale still holds around 126,000 $ETH, worth about $257 million, with this indicating overall long-term bullish sentiment.

Ethereum price key levels

From a technical standpoint, $ETH is hovering within the short‑term support and resistance in the $2,000–$2,200 band.

As highlighted here, the $2,150 is a key level and upside momentum hinges on bulls keeping support intact.

The downside, key bearish targets lie around $1,800, while bulls fancy $3,000 and the August 2025 all‑time high of $4,953.