⬤ Ethereum’s holding steady above a crucial support level that could determine its next move. The crypto is trading around the 3,130 zone after pulling back from recent highs, and buyers seem committed to defending this floor. As long as ETH stays above Monday’s low, there’s still room for prices to push higher in the short term.
⬤ The current setup shows Ethereum trying to recover but not quite breaking into a strong uptrend yet. Price bounced off a local bottom and is now stuck below a downward-sloping resistance line. There’s a cluster of Fibonacci levels between 3,150 and 3,300 that’s been acting like a ceiling, capping any serious upward momentum. Still, holding that Monday support keeps the recovery idea on the table.
⬤ Right now, price action looks messy and indecisive, which tells you nobody’s really in control. Buyers and sellers are basically at a standoff, and that makes ETH vulnerable to outside news. With CPI numbers coming out soon, we could see some quick, sharp moves around these technical levels.
⬤ This matters because Ethereum often sets the tone for how other major cryptos behave. If it keeps holding above that Monday low, we might see another push higher. But if support breaks, traders will start looking at lower price zones. The CPI release could be the trigger that decides which way things go from here.
Ethereum Holds $3,130 Support Ahead of CPI Volatility
⬤ Ethereum’s holding steady above a crucial support level that could determine its next move. The crypto is trading around the 3,130 zone after pulling back from recent highs, and buyers seem committed to defending this floor. As long as ETH stays above Monday’s low, there’s still room for prices to push higher in the short term.
⬤ The current setup shows Ethereum trying to recover but not quite breaking into a strong uptrend yet. Price bounced off a local bottom and is now stuck below a downward-sloping resistance line. There’s a cluster of Fibonacci levels between 3,150 and 3,300 that’s been acting like a ceiling, capping any serious upward momentum. Still, holding that Monday support keeps the recovery idea on the table.
⬤ Right now, price action looks messy and indecisive, which tells you nobody’s really in control. Buyers and sellers are basically at a standoff, and that makes ETH vulnerable to outside news. With CPI numbers coming out soon, we could see some quick, sharp moves around these technical levels.
⬤ This matters because Ethereum often sets the tone for how other major cryptos behave. If it keeps holding above that Monday low, we might see another push higher. But if support breaks, traders will start looking at lower price zones. The CPI release could be the trigger that decides which way things go from here.