ETH Nears $2,600 on US Jobs Data & Bullish Momentum
Ethereum price climbed towards $2,600, gaining 0.5%–1.2% intraday as traders reacted to stronger-than-expected US June nonfarm payrolls, which added 147,000 jobs and lowered unemployment to 4.1%. Equities hit record highs while Fed rate cut bets were pared back. On-chain data shows ETH trading in a $2,559–$2,630 range, with resistance at $2,630. Rising trading volume, boosted DeFi activity, upcoming network upgrades and growing institutional interest support further upside. Short-term traders should watch for consolidation above $2,600 to confirm a bullish breakout. Long-term investors may view this as a sign of sustained growth in Ethereum price.
Bullish
The combined news is bullish for Ethereum. Strong US jobs data and record equity highs reduce rate-cut expectations, creating a supportive macro backdrop that lifts crypto markets. On-chain technicals show ETH trading near $2,600 with upward momentum and rising volume. Upcoming network upgrades and institutional interest add further upside drivers. In the short term, a confirmed consolidation above $2,600 could spur further gains as traders chase breakouts. Over the long term, sustained DeFi growth and infrastructure improvements support a positive outlook for Ethereum price.