Ethereum Surges Past $1,850 on CPI Data, $2,000 Target in Play
Ethereum blasted through $1,850 resistance. Softer CPI data ignited a sharp short squeeze. The $2,000 level is now firmly in traders' sights.
Ethereum price action just cleared the $1,850 resistance level, a key technical hurdle. This move follows softer-than-expected U.S. inflation data, which injected fresh momentum into the market.
The Consumer Price Index (CPI) report for June sparked a significant short squeeze, propelling the second-largest cryptocurrency nearly 5% higher on July 15. This rapid ascent confirms strong buying pressure.
With $1,850 now flipped to support, the immediate focus for traders shifts to the psychological $2,000 mark. Breaking this level could ignite further upside.