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Iran president reaffirms that ceasefire agreement has been violated

Israeli strikes on Lebanon violate ceasefire agreementAttacks on Lebanon would deem ceasefire negotiations meaninglessIran will not abandon the Lebanese peopleThis reaffirms what we already know from yesterday, with Iran already saying that three clauses to the ceasefire agreement have been violated.Besides this, Iran parliament speaker Qalibaf was also out on social media as to saying:The ceasefire proposal included Lebanon and the entire ‘axis of resistance’Ceasefire violations carry explicit costs and strong responsesTo appease the public view, these comments look to be necessary. But behind the scenes, it remains to be seen if there is a deal to be worked out. Negotiations look set to be for tomorrow, so we’ll see on that.In the meantime though, nothing has changed with regards to the Strait of Hormuz situation. Reuters had earlier in the day cited shipping data in reporting that just one oil tanker has made it pass the strait in the past 24 hours. That’s not a good sign as even with the truce being called, it’s not changing anything.And when adding commercial and other ships, there was just a total of eight vessels that crossed the Strait of Hormuz in the past day. So much for “reopening”.
This article was written by Justin Low at investinglive.com.

๐Ÿ”— Source

๐Ÿ’ก DMK Insight

The recent Israeli strikes on Lebanon are shaking up geopolitical stability, and here’s why that matters for traders: escalating tensions could impact oil prices and crypto markets. With ETH currently at $2,180.95, any significant geopolitical unrest often leads to a flight to safety, pushing traders towards assets like Bitcoin or even gold. If the situation worsens, we might see volatility spike in both crypto and traditional markets. Keep an eye on oil prices as well; any surge could ripple through the markets, affecting risk sentiment. The broader context here is that geopolitical events can create sudden price swings, especially in the crypto space where sentiment can shift rapidly. On the flip side, if the situation stabilizes, we could see a rebound in risk assets, including Ethereum. Watch for key support levels around $2,100 for ETH; a break below that could trigger further selling pressure. Overall, traders should monitor news developments closely and be ready to adjust positions accordingly.

๐Ÿ“ฎ Takeaway

Watch for ETH to hold above $2,100; a drop below could signal increased selling pressure amid rising geopolitical tensions.

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