Earlier today, Ethereum price rose 1.9% during the day to reach a high of $2,414. There was buying pressure following the release of the US March 2026 PPI data, resulting in a slight increase of 0.5% from the previous month. However, the coin price quickly returned to $2,345 in the US market on Tuesday, as the recent recovery resembles a bear market rescue rally pattern rather than a reversal of a structural trend. major level $ETHRecovery attempts are underway.
$ETH $2,300 recovered as PPI boosts rate cut bet
Since last week, Ethereum price has soared from $2,178 to $2,343, marking an increase of 7.56%. The main trigger for this surge may be related to diplomatic talks between the United States and Iran, which raised hopes of de-escalating the conflict and reopening the Strait of Hormuz.
Investors cheered on the news that the Producer Price Index (PPI) data for March 2026 was lower than expected, and buying pressure continued until the US trading bell rang. The index rose only 0.5% from the previous month and 4.0% from the previous year, far below the 1.1% and 4.6% expected by economists.
The decline in the wholesale inflation index supports claims that the Federal Reserve will cut interest rates in the second half of 2026. The data shows that price pressures at the producer level are slowing at a slower pace than initially expected, allaying concerns about continued inflation and predicting monetary policy will become increasingly accommodative.
Wall Street is now raising the possibility of policy easing, with attention shifting to the next CPI and Fed indicators for further understanding.
As a result, Ethereum price has returned to the $2,300 level and regained the average purchase price of those who bought it one to three months ago, amid a general recovery in cryptocurrency prices.
However, analytics platform Glassnode argues that this recovery is similar to the temporary recovery observed in the third and fourth quarters of 2022, when the bear market was at its lowest point. The above on-chain data highlights that recent price movements correspond to a short-term bailout rebound trend rather than the beginning of a sustained trend reversal.
Ethereum price aims for major breakout from 70-day accumulation
On April 10th, Ethereum price made a bullish breakout from a six-month resistance trendline, indicating a major change in market sentiment. After a short decline to validate this breakout, $ETH The coin rebounded 8% on Monday, challenging the overhead resistance trend line at $2,384.
A possible breakout of this resistance would end the 10-week accumulation zone for the top altcoins and further strengthen the momentum of the altcoin recovery. $ETH. The average directional index (ADX) soared to 17%, also underscoring the renewed bullish momentum among buyers.
The post-breakout rally could push the asset to $2,630 and then as high as $3,000.
Alternatively, if sellers continue to define resistance at $2,384, Ethereum price could prolong the ongoing price action.
