# Ethereum price rose over 9% on Tuesday amid a broader market rally fueled by renewed hopes of a more stable U.S.-Iran ceasefire soon.

*business · news · 2026-04-14 · Crypto News*

## Key points

- Ethereum price surged 9.2% to a 10-week high of $2,393 on Tuesday.
- Bitmine acquired 71,524 ETH last week, now holding 4.04% of total Ethereum supply.
- Over $123.5 million in Ethereum short positions were liquidated due to the price spike.
- Ethereum broke out of a descending channel pattern, setting a potential target of $3,400.

**Companies:** Bitmine
**Countries:** United States, Iran

[Read the full story on Crypto News](https://crypto.news/ethereum-price-breaks-out-from-multi-year-descending-channel-eyes-upside-to-3400/)

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