Ethereum Taps $2,600 For First Time In 7 Months: What Is Happening?

Ethereum (CRYPTO: ETH) on Friday tapped $2,600 for the first time in seven months after core CPI hit its lowest level in over five years.

What Drove the Move

Widely-followed market commentator Bull Theory posted on X that $127 billion flooded back into the total crypto market cap in just 90 minutes after the CPI release, with Bitcoin surging above $79,000 alongside Ethereum’s breakout. 

As Benzinga reported Friday, core CPI came in at its lowest level in over five years, triggering a sharp risk-on move as investors treated the rate hike as a priced-in event rather than a new shock.

What the ETF Data Could Show

Spot ETH ETFs recorded $19.30 million in net outflows this week through Thursday according to SoSoValue, but Friday’s data remains pending. 

Given Ethereum’s 8% rally and the return of buying activity, Friday inflows could potentially offset the weekly deficit and extend the ETF inflow streak to four consecutive weeks.

What Analysts Are Saying

Ali Martinez posted on X that Ethereum is doing exactly what he predicted, with price approaching his $2,740 target. 

Meanwhile, Michaël van de Poppe added on X that ETH making new highs is the signal altcoin bulls have been waiting for. 

“For altcoins to really shine, you’d require to see momentum in ETH and that’s here,” he wrote, pointing to strong performance in Bitcoin pairs as confirmation that broader crypto momentum is building.

ETH Price Prediction: Key Levels to Watch

Ethereum surged above the upper boundary of its ascending channel before pulling back to retest the breakout zone near $2,580 to $2,600. 

Holding that level as support confirms the breakout and opens the path toward $2,670 and then $2,700. Meanwhile, RSI at 67.92 shows strong momentum just below overbought territory. 

However, a drop back inside the channel puts $2,500 in focus, followed by the 20-day EMA at $2,424.

Key levels for ETH:

• $2,670 to $2,700 — next resistance targets above
• $2,580 to $2,600 — breakout retest zone, must hold
• $2,424 — 20-day EMA, deeper support below

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