Ether Surges Toward $3K on Tentative U.S.–China Trade Pact and Soft U.S. CPI Report

Ether (ETH)

ETH$2,861.84

drifted around $2,770 for most of Tuesday until roughly 8 p.m. ET, when officials said negotiators in London had forged a draft U.S.–China trade framework. The outline — till awaiting presidential approval — would see Beijing resume rare-earth exports while Washington eases curbs on advanced-technology sales.

At 8:04 a.m. ET on Wednesday, former U.S. president Donald Trump posted on Truth Social that “OUR DEAL WITH CHINA IS DONE,” pending his and President Xi’s formal approval. Trump claimed the accord would leave U.S. tariffs on Chinese imports effectively at 55 percent versus Beijing’s 10 percent, promised that China would front-load supplies of magnets and other rare-earth materials, and said Washington would uphold concessions such as continued access for Chinese students to American universities, describing the bilateral relationship as “excellent.”

Hopes for a thaw in the multi-year tariff dispute sparked an initial risk-on bid: global equity futures firmed, bitcoin ticked higher and ether pushed to about $2,780 on expanding spot turnover.

Risk appetite intensified eleven hours later, around 8:30 a.m. ET on Wednesday, after the U.S. Labor Department reported that May headline and core CPI each rose just 0.1 percent month on month, undercutting economists’ 0.2 percent forecasts. The cooler print fueled expectations the Federal Reserve could trim rates later this year, driving Treasury yields and the dollar lower while extending gains in equities.

Against that macro backdrop, ether vaulted from the upper-$2,780s to an intraday high of $2,873.46, with spot volume swelling to roughly 527,000 coins (~$1.47 billion), according to CoinDesk Research’s technical analysis model.

Structural tailwinds remain strong. Staked ETH climbed to a record 34.65 million tokens (≈28.7 percent of supply), exchange-traded funds logged a 16-day inflow streak near $900 million, and futures open interest printed a fresh high above $21.7 billion — all underscoring steady institutional engagement. BlackRock’s reported $500 million accumulation over the past ten days exemplifies that theme.

Traders now look for a decisive close above $2,900 to open a potential run at the psychological $3,000 mark, while guarding against a pullback toward the newly established $2,750–$2,760 support band.

Technical Analysis Highlights

• Trend: Series of higher lows since June 9 and a fresh higher high at $2,873 confirm an accelerating up-channel.
• Volume confirmation: CPI-triggered candle printed the day’s largest bar (≈527 K ETH), validating Tuesday’s breakout above $2,800.
• Support / resistance: Immediate support sits at $2,750–$2,760; upside targets are $2,900 and the psychological $3,000 zone, followed by a secondary hurdle near $3,120.
• Momentum: Hourly RSI holds above 60, indicating room to extend before overbought conditions emerge.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.