$ETH - CPI Data in Focus This Week

In the last 24 hours, the price has fluctuated between $2,658.68 and $2,832.55, with an approximate increase of +4.73%.

Over the past month, ETH has risen by 10.67% to 27.20%, but it remains in negative territory over the last year (-22.91% to -32.40%). Its all-time high was reached in November 2021, when the price climbed above $4,800.

Key support levels for ETH are identified around $2,750, a strong immediate support from a bullish trendline, followed by $2,721 and $2,642.

Stronger support zones lie between $2,511 - $2,518 and $2,300 - $2,400, where significant investor accumulation has occurred.

This week, the market's focus is squarely on today's U.S. CPI data.

A lower-than-expected inflation reading could bolster risk assets, including ETH, by fueling expectations of earlier Fed rate cuts.

Conversely, higher inflation could trigger a pullback.

A mild CPI report could see ETH test resistance at $2,850 - $2,900, potentially eyeing the $3,000 mark.

Conversely, an unfavorable CPI or unforeseen geopolitical event could push prices back towards the immediate support zones, with $2,750 and $2,600 - $2,500 being critical retest points.

Any new or escalating discussions about tariffs, especially between the U.S. and the EU/China, could induce volatility.

* Bullish Scenario: If CPI data is mild (lower inflation) and there are no significant negative geopolitical reports, ETH could continue its ascent and test resistances around $2,850 - $2,900. A breakthrough of these levels could open the path to the psychological barrier of $3,000 and further towards a projected target of around $3,171.

* Bearish Scenario: If CPI data surprisingly shows higher inflation, or an unexpected geopolitical shock occurs, ETH could experience a correction. In such a scenario, the price might fall back to immediate supports around $2,750 and further test stronger support zones around $2,600 - $2,500.