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The Ethereum price slipped 2% in the past 24 hours to trade at $2,967 as of 1:21 a.m. EST, with trading volume surging 62% to $41 billion.
The ETH price drop comes ahead of the US the Consumer Price Index (CPI) data for June today at 8:30 a.m. ET.
With the measured changes in the CPI, inflation in the US is expected to rise at an annual rate of 2.7% in June, having recorded a 2.4% increase in May.
As inflation rises, the Federal Reserve may increase interest rates to cool down spending, which could strengthen the dollar against other currencies, including digital currencies like cryptos.
Ethereum Price Set For A Bullish Rally If It Overcomes This Resistance
After forming a rounded bottom pattern from February to late May, the ETH price then went on to trade within a consolidation phase between $2,740 and $2,461.
Ethereum’s price then took some pressure from the bulls, breaking out of the consolidation zone and the 0 Fibonacci Retracement level, to soar above the $3,000 resistance.
The $3,340 resistance reached in January still acts as resistance, which, if crossed, could allow the Ethereum price to soar, as GeckoTerminal data shows.
As a result of the sustained uptrend, the price of ETH is now trading well above both the 50-day and 200-day Simple Moving Averages (SMAs).
The Relative Strength Index (RSI) at 68 is an indication that Ethereum has been under intense buying pressure, which also shows that there is still room for a rally before the asset becomes oversold.
Moreover, the blue Moving Average Convergence Divergence (MACD) has crossed above the orange signal line on the 1-day timeframe, a sign of a bullish crossover.
ETH Price Analysis Signals A 21% Surge
The ETH price outlook suggests that the asset is looking to surge. If it successfully breaks above the $3,340 resistance, the Ethereum price could surge to the $3,593 level (-0.618 Fib level). This represents a 21% rally from the current level.
On the flipside, if bears take charge as a result of the recent surge, ETH could drop back to the consolidation zone at the 0.236 Fib level at $2,613.
Meanwhile, investors are piling into a new meme coin called TOKEN6900 (T6900), which, according to Jacob Bury, a popular crypto YouTuber with over 57k subscribers, could soar 10X after launch.
TOKEN6900 Presale Racing Towards The $600K Milestone – Next 10X Crypto?
In just 2 weeks after its presale went live, TOKEN6900 has garnered over $531K in early funding as it rushes towards the $600K milestone.
SPX6900 mocked the S&P 500, Wall Street elites, and financial orthodoxy. TOKEN6900 builds on that foundation but dials the absurdity to 6900, literally.
Unlike other meme coins, the T6900 presale also has fairness and sustainability written all over it.
TOKEN6900 is brain rot personified. Inspired by 2000s nostalgia and ’69 energy, it makes it clear that it has no utility.
It doesn’t track GDP, oil reserves, or corporate earnings. Instead, it tracks what it calls “vibe liquidity.” It’s not built on fundamentals but instead on delusion, irony, and the collective hallucination of terminally online traders.
🔥 MemEconomy: 🔥
🔸 TOKEN6900 lit up the memecoin scene today with a massive presale launch, thrilling traders chasing the next 1000x winner in a surging crypto market 🚀
🔸 Entering a $55B arena, TOKEN6900 is feeding off high volatility and strong institutional interest,… pic.twitter.com/AXQ6t0dMio
— Crypto Zone 🆇 (@cryptozone_x) July 2, 2025
However, it has a hard cap of $5 million and a massive 80% of the total token supply available during its presale.
The token is built on the Ethereum blockchain and aims to turn collective brain rot into a tradable ticker.
Priced at $0.006575, you can buy T6900 tokens with ETH, BNB, USDT, USDC, or a bank card. The end price is $0.007125, so act quickly before the crypto rises and hits this threshold.
For passive income, investors can also buy and stake T6900 tokens for a 105% annual percentage yield (APY).
Investors looking to secure the best presale deal will want to buy before the next ICO price hike in around 24 hours.
Related News:
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- Most Searched Cryptos on GeckoTerminal Today – XRP, Degen, CreatorBid, Tagger
- BTC Slides Below $120K As This Layer-2 Presale Charges Towards $3 Million
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