Affected by stable macro inflation expectations and improved geopolitical situations, market risk appetite has risen. Additionally, capital inflows into Ethereum spot and derivatives have invigorated the public chain ecosystem. ELON has shown a strong technical rebound from oversold conditions in the short term, recently recovering effectively above $0.07 with trading volume returning. It is recommended to closely watch the resistance area of $0.085–0.087; if there is a volume breakout, the uptrend is expected to continue, otherwise, caution is advised for potential pullback and downside risk control.

The latest US core PCE inflation data met expectations, alleviating concerns about further tightening by the Federal Reserve. In addition, easing tensions in the Middle East have led to a decline in safe-haven assets, while leading digital asset Bitcoin is consolidating around $73,000. Overall, the sentiment for risk assets has improved, providing a favorable external environment for the short-term activity of small-cap tokens.

The latest US PCE inflation data met expectations, easing market uncertainty and stabilizing Bitcoin around $73,000. Core PCE rose 3% year-on-year and 0.4% month-on-month. Despite easing US-Iran tensions, potential energy price impacts remain unreflected. Investors remain cautious about Fed rate cuts. Economist Mohamed El-Erian highlights upcoming CPI data as more critical amid oil price volatility. Analyst Michaël van de Poppe maintains an $80,000 Bitcoin target if key support holds.

Analysts maintain an $80K Bitcoin target as PCE inflation data boosts market sentiment.

Since early March, Ethereum futures and options markets have seen sustained net buying, with bulls actively defending the $2,000 support level. The open interest of derivatives is approaching historical highs, and spot ETFs have also recorded inflows exceeding one hundred million dollars. This round of bullish sentiment recovery helps boost the entire public chain ecosystem, and niche tokens are expected to gain more attention through the spillover effect of new capital.

Market data shows Ethereum buyers are returning, with bulls defending the $2000 support level. Since March 6, Ethereum's aggressive buying volume has remained positive, indicating a recovery in derivatives market demand. The buying pressure dominates at $104 million, marking the first such shift in Ethereum derivatives since the last bear market. Futures open interest nears a historic high, and spot Ethereum ETFs saw a $120 million net inflow, the highest since mid-March.

Analysis: Ethereum's proactive order consumption has remained positive since March, signaling a recovery in the derivatives market.

On the daily ELON/USDT chart, the price was under pressure from the $0.08 level since early April, dropping to a phase low of $0.0596 on April 12 with significantly increased trading volume, followed by a rapid rebound to close at $0.0761. This indicates concentrated selling by bears at the lows and subsequent buying by bulls. Currently, the price has returned above the $0.07 support level with trading volume picking up, setting up for a potential short-term test of the $0.085–0.087 resistance area. Pay close attention to the volume behavior at this resistance. If accompanied by increased trading volume, the short-term trend may further strengthen; otherwise, be wary of pullback risks.

Echelon Token

Why Is Crypto Up Today? Cooling Inflation and Fed Rate Cut Bets Spark Market Rally

ECB’s Lane says persistent inflation could still force rate hikes

Goolsbee: The Federal Reserve may not cut interest rates until 2027.

Ethereum briefly surges to $2,400 as geopolitical relief boosts crypto, stocks

Dollentz: The European Central Bank will raise interest rates if the inflation impact lasts longer.

The probability that the Federal Reserve will keep interest rates unchanged in April is currently 99.5%.

The probability of the Fed cutting rates once in 2026, as traded on Kalshi, is only 24.8%.

Bessent tells Fed to ‘wait and see’ on cuts as war-driven inflation clouds Bitcoin

New weakening China trade and US inflation data means Iran economic contagion is spreading, in unique setup for Bitcoin

U.S. Treasury Secretary Bessent: The Fed can observe for a period before cutting interest rates

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ELON price today is 0.08, with a live price change of 9.98 in the last 24 hours. Convert, buy, sell and trade ELON on Bybit-eu.

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