Ethereum Smashes $2,600 Barrier as Bitcoin Soars to New Heights

Ethereum has reclaimed the $2,600 level after seven months of trading below it. This milestone comes on the heels of Bitcoin's surge above $79,000 with a $3,200 gain in just 90 minutes.

The broader crypto market saw an influx of $127 billion following the news that US Core CPI printed its lowest reading in over five years.

Ethereum's price action on the 4-hour chart shows it holding a bullish structure above the EMA50 at $2473.8 and EMA200 at $2292.21, but momentum has stretched with RSI(14) at 71.28 in overbought territory.

The MACD registers a golden cross at 5.31, indicating that Ethereum is still trending upward. However, institutional desks are now watching for a healthy pullback toward the 50-EMA support before any continuation higher amid the post-CPI liquidity wave.