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Ethereum Surges to Highest Level Since February, Driven by Strong Inflows and Technical Momentum

Ethereum — the world’s second-largest cryptocurrency by market capitalization at $333 billion, following Bitcoin — reached $2,880 yesterday, marking its highest level since February 4, 2025. Prices have surged approximately 108% from the low of $1,383 recorded on April 9 to yesterday’s peak at $2,880. However, Ethereum remains down around 17% year-to-date and is currently trading near the $2,800 level.

Key factors supporting Ethereum’s rally include — but are not limited to — the following:

  1. Continued investment inflows into Ethereum-linked Exchange-Traded Funds (ETFs) for the ninth consecutive week — the longest streak since launch.
  2. Persistent inflows into crypto-related Exchange-Traded Products (ETPs) for eight straight weeks.
  3. A growing risk appetite among investors, especially large institutions, which are increasingly adding Ethereum to their portfolios for diversification and amid growing optimism about the crypto sector.
  4. The U.S. Core Consumer Price Index (CPI) came in at 2.4% yesterday — below expectations of 2.5% — which may encourage the U.S. Federal Reserve to cut interest rates in the near future. This would benefit Ethereum, a non-yielding asset, by providing additional bullish momentum.

From a technical perspective:

  • Key support levels lie at $2,651 and $2,600, corresponding to the 200-day and 20-day moving averages, respectively.
  • A bullish crossover has occurred between the MACD (blue) and the Signal Line (orange), signaling positive momentum.
  • The Relative Strength Index (RSI) is currently at 63, reflecting upward price momentum.
  • The Positive Directional Movement Index (DMI+) stands at 30, versus 14 for the DMI−, indicating buying pressure outweighs selling pressure.

The primary challenge for Ethereum now is to break through the strong resistance at $2,800, and then target the key psychological level of $3,000.

 

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.

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