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Ethereum drops 3.4% below $2,100 amid US-Iran tensions and risk-off sentiment

Technical Signals
07 Apr 2026
Crypto news
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Bearish
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Ethereum price fell 3.4% below $2,100 after US President Trump rejected Iran's proposal to end conflict and warned of strikes if the Strait of Hormuz remains closed. This heightened geopolitical tension weakened risk sentiment across crypto and equity markets, with Asian stocks flat or down. Technical analysis shows Ethereum forming a bearish double top pattern, with a key support at $2,000; a break below could trigger further declines and liquidations of up to $1.41 billion in long positions. Investors are cautious amid escalating uncertainty, awaiting developments in the US-Iran standoff.

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