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Ether (ETH) traded back above $2,000 on Friday, and its gains extended after the US Consumer Price Index (CPI) print came in cooler than expected.
The recovery put ETH/USD on track for its first bullish weekly candle close since mid-January, fueling speculation for a rally toward $2,500.
Key takeaways:
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Ether futures’ open interest fell by 80 million ETH in 30 days, and funding rates hit three-year lows, indicating a weakening bearish trend.
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ETH price has established strong support around $2,000, a level…
