ETH jumps 5% as inflation cools: can bulls smash the $1,909 barrier?

Ethereum rose more than 5% to above $1,850 after a softer-than-expected US CPI report boosted risk appetite and raised hopes the Federal Reserve may slow its tightening path. Annual inflation cooled to 3.5% versus 3.8% expected, while core CPI eased to 2.6%, helping drive a broad crypto rally and triggering about $116 million in ETH short liquidations. Derivatives activity strengthened as open interest climbed 9% to $26.69 billion and funding stayed positive, but on-chain data shows whales and mid-sized holders still trimming positions. Technically, ETH remains constructive above its 20-day EMA at $1,755 and 50-day EMA at $1,802, with $1,909 as the key resistance. A breakout above that level could open targets toward $1,948, $2,018, $2,107 and $2,211, while failure to hold $1,802 risks a pullback.