Ethereum Tops $1,900 in a Six-Week High, Where to Next For ETH?
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ETH hit a six-week high of $1,940 in late Wednesday trading and stayed above $1,900 into Thursday morning, posting nearly 10% gains over two consecutive days. CryptoQuant analyst Darkfost said the rally was driven by US CPI and PPI coming in well below expectations, suggesting a macro-driven boost to crypto price action and DeFi/token adoption.
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ETH tapped a six-week high of $1,940 in late trading on Wednesday and has held on to those gains into Thursday morning, where it remained above $1,900.
CryptoQuant analyst ‘Darkfost’ said on Thursday that the move was driven by positive inflation reports in the US, with CPI and PPI figures that came in well below expectations. ETH has posted nearly 10% gains over the past two consecutive days, he said.
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