Ethereum Weekly Price Spike Hits 50% as Bitcoin, Solana and Dogecoin Gain

Ethereum He jumped more than 8% in the last 24 hours, accelerating his momentum on Tuesday after an encouraging inflation report and in the midst of other optimized signs that re -launched an appetite investor for crypto and other risk property.

The second largest currency curine of market capitalization broke $ 2,700 at one point during the late afternoon Eastern time before retreating slightly under that threshold. Despite this, the coin has been increasing at 51% over the last seven days, according to Crypto Markets Data Coingecko Data.

“Mostly we see on the constant momentum for ETH,” said Carlos Guzman, research analyst Crypto Market Maker GSR, said Decipher. “Eth is finally in the spotlight after lagging behind during the latest cycle, and investors re -draw attention to how the feelings of shifts.”

ETH began to decline from the previous plateau close to $ 1,700 late last week after the successful Pectra upgrade to increase the speed and efficiency of the Ethereum network, and as Trump’s administration seemed to at least temporarily withdrew from its global trade war.

Tuesday jump came after the latest consumer price index – a widely observed measure of inflation – relatively straight for April, and prices increased by 0.2%, surprising many analysts who expected a higher increase. The annual inflation climbed to 2.3%, near the target of 2% of the US central bank, which, if they reach, would probably allow the bank to loosen up their monetary policy.

“The markets today are greatly responding to the good news about the US inflationary front with the CPIs lower than expected, which could open the way to reduce the rates,” Guzman said, noting that at the last meeting of the Federal Reserves at its last meeting. However, he cautiously added that “tariff influences have not yet been reflected in data.”

Other Altcoins were also in green, with a toast of platforms for smart contracts Saltworks (Salt) increasing more than 5% in the past 24 hours and popular meme coins Dogecoin (Doge) and Shiba Inu (Shib) each is almost 4%. BitcoinThe largest digital assets per market value, recently traded with a hand more than $ 104,200, which is 1.4% per week.

Two of the three main capital indexs closed in a positive territory, with technologically heavy nas and S&P 500 increased 1.6%and 0.7%or 0.7%.

In the note DecipherGreg Magadini, Director of Derivate in a research group aimed at cryptocurrencies Amberdat, wrote that Eth had “a lot of space … to continue to surpass, especially since the assets of the risk (supplies) continue the rapid aversion.”

“When you look at the deribit [maintenance margin] Positioning, we see that $ 2,800 has the most prominent gamus for merchants and indicates a potential resistance point from the option of the option, “Magadin wrote.

However, Magadins added that the prices trends indicated “that the market was clumsy for that sharp Eth rally “(emphasize his).

“It’s positioning not Expanded here, “he wrote.” There is no reason why ETH cannot continue higher if we go to a level of $ 2,800. “

Edited Andrew Hayward