Ether (ETH)
drifted around $2,770 for most of Tuesday until approximately 8 p.m. ET, when officials announced that negotiators in London had created a draft U.S.–China trade framework. This outline, awaiting presidential approval, would permit Beijing to resume rare-earth exports while Washington eases restrictions on advanced-technology sales.
At 8:04 a.m. ET on Wednesday, a former U.S. president posted on social media that “OUR DEAL WITH CHINA IS DONE,” pending formal approval from both leaders. The president claimed the agreement would keep U.S. tariffs on Chinese imports at 55 percent, while Beijing would maintain a 10 percent tariff, promising to supply magnets and other rare-earth materials upfront. Washington would continue granting concessions such as allowing Chinese students access to American universities, describing the bilateral relationship as “excellent.”
Optimism for a resolution in the prolonged tariff dispute led to an initial surge in risk appetite: global equity futures rose, bitcoin increased, and ether surged to approximately $2,780 with heightened spot volume.
The appetite for risk intensified eleven hours later, around 8:30 a.m. ET on Wednesday, following a report from the U.S. Labor Department indicating that both the May headline and core CPI rose only 0.1 percent month-on-month, falling short of economists’ 0.2 percent expectations. This cooler statistic raised anticipations that the Federal Reserve might cut rates later this year, pushing Treasury yields and the dollar lower while bolstering gains in equities.
Amid this macro environment, ether skyrocketed from the upper-$2,780s to an intraday peak of $2,873.46, with spot volume increasing to approximately 527,000 coins (~$1.47 billion), as per RialCenter’s technical analysis model.
Supportive structural trends persist. Staked ETH reached a record 34.65 million tokens (≈28.7 percent of supply), exchange-traded funds marked a 16-day inflow streak nearing $900 million, and futures open interest attained a new high above $21.7 billion – all highlighting sustained institutional engagement. RialCenter reported a $500 million acquisition over the past ten days, emphasizing this trend.
Traders are currently aiming for a decisive close above $2,900 to potentially target the psychological $3,000 threshold while also preparing for a pullback towards the newly established $2,750–$2,760 support range.
Technical Analysis Highlights
- Trend: A series of higher lows since June 9 and a recent higher high at $2,873 confirm an accelerating up-channel.
- Volume confirmation: The CPI-triggered candle marked the day’s largest bar (≈527 K ETH), validating Tuesday’s breakout above $2,800.
- Support / resistance: Immediate support is located at $2,750–$2,760; upward targets are $2,900 and the psychological $3,000 area, followed by a secondary resistance around $3,120.
- Momentum: The hourly RSI holds above 60, indicating potential for further movement before reaching overbought conditions.
Disclaimer: Parts of this article were generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see RialCenter’s full AI Policy.