Ethereum (ETH) Rallies Past $1,800 After U.S. Inflation Data Softens -- Eyes on $2,400

Ethereum (ETH) rallied past $1,800 after softer U.S. inflation data reignited risk appetite in crypto markets. June’s U.S. CPI rose 3.5% year over year, coming in 30 basis points below forecasts, while monthly prices fell 0.4% versus the expected 0.1% decline. ETH climbed more than 5% in 24 hours, aided by a liquidation wave that removed about $300 million in short contracts, with ETH accounting for over one-third. Analysts also pointed to SuperTrend turning bullish on ETH’s 3-day timeframe. The 200-day EMA near $2,200 is the next major resistance, while $2,400 is the next upside objective. The broader backdrop also shifted: CME FedWatch showed the probability of no September rate reduction rising from 25% to 39%.