Ether (ETH) experienced a notable increase in price, moving from around $2,770 toward $3,000 on Tuesday evening, after reports indicated progress on a U.S.-China trade framework. This draft includes potential concessions from both sides, such as China resuming rare-earth exports while the U.S. would ease advanced-tech sales restrictions. Former President Donald Trump announced the trade pact details on Truth Social, outlining that while U.S. tariffs on Chinese imports would remain high (at 55%), the agreement could improve conditions significantly.
Subsequent to this announcement, there was a spike in market confidence, resulting in higher global equity futures and increased prices for Bitcoin and Ether. By Wednesday morning, a CPI report from the U.S. Labor Department indicated only a 0.1% increase in both headline and core inflation for May, below economists' expectations, which further boosted market sentiment around a potential interest rate cut by the Federal Reserve.
As investors responded to these economic indicators, Ether's price reached an intraday high of $2,873.46, with trading volume also surging to approximately 527,000 coins valued at around $1.47 billion. Institutional interest remains strong, as evidenced by significant inflows into exchange-traded funds and a record high in staked Ether tokens.
Traders are now eyeing a key price point: a close above $2,900 could signal a push toward the psychological barrier of $3,000, while support is identified in the $2,750 to $2,760 range, suggesting a cautious outlook for any short-term volatility. The recent trend indicates a series of higher lows, contributing to a positive outlook for Ether's momentum in the near future.
Subsequent to this announcement, there was a spike in market confidence, resulting in higher global equity futures and increased prices for Bitcoin and Ether. By Wednesday morning, a CPI report from the U.S. Labor Department indicated only a 0.1% increase in both headline and core inflation for May, below economists' expectations, which further boosted market sentiment around a potential interest rate cut by the Federal Reserve.
As investors responded to these economic indicators, Ether's price reached an intraday high of $2,873.46, with trading volume also surging to approximately 527,000 coins valued at around $1.47 billion. Institutional interest remains strong, as evidenced by significant inflows into exchange-traded funds and a record high in staked Ether tokens.
Traders are now eyeing a key price point: a close above $2,900 could signal a push toward the psychological barrier of $3,000, while support is identified in the $2,750 to $2,760 range, suggesting a cautious outlook for any short-term volatility. The recent trend indicates a series of higher lows, contributing to a positive outlook for Ether's momentum in the near future.
