Ethereum: Reclaims $2,600 After Seven Months
Ethereum reclaims $2,600 for first time in 7 months while Bitcoin surges above $79,000 after US Core CPI hits lowest level in over 5 years, adding $127 billion to crypto market.
SourceAnalysis
Ethereum reclaimed the $2,600 level for the first time in seven months as Bitcoin surged above $79,000 with a $3,200 gain in just 90 minutes, driving $127 billion into the broader crypto market after US Core CPI printed its lowest reading in over five years.
Price action on the 4h chart shows ETH at $2613.82 holding a bullish structure above the EMA50 at $2473.8 and EMA200 at $2292.21, yet momentum has stretched with RSI(14) at 71.28 in overbought territory and price testing the upper Bollinger Band resistance at $2554.04 while MACD registers a golden cross at 5.31; institutional desks now watch for a healthy pullback toward the 50-EMA support before any continuation higher amid the post-CPI liquidity wave.
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