Last night, the U.S. June CPI fell 0.4% month-on-month, the largest drop since April 2020, easing market concerns about further Fed rate hikes significantly. Fueled by this boost, ETH surged more than 6% in a single day, topping out at $1,896. Bitmine chairman Tom Lee even posted directly that ETH has become the best-performing macro asset. On the ETF front, there’s also movement—9 Ethereum spot ETFs saw a net inflow of 80,294 ETH in one day, ending four consecutive days of outflows. However, there’s a downside: geopolitical tensions in the Middle East are still escalating, and rising oil prices could quickly weigh on risk appetite.

Although the CPI data ignited bullish sentiment and ETF flows are returning, the broader trend remains bullish. But in the short term, technical indicators still need to be repaired; there are plenty of trapped positions above 1,900, so it’s not that easy to push straight through. In terms of pace, it’s likely the same as BTC—advance two steps, retreat one step. Pullbacks followed by buying is more comfortable than chasing highs. Support sits at 1,840-1,850, with resistance at 1,890-1,900. Trade in batches and set strict stop-losses. $ETH #eth