Currently, the price of $ETH ETH is stuck in the key range of $2970 to $3,000, and many people are guessing:

"Will it break through directly?"

My view is simple: Tonight's CPI data release is a watershed moment. Either the bulls will be crushed directly, or it will perform another false breakdown to show retail investors.

If the data is higher than expected and inflation remains sticky, the market's expectations for a "quick interest rate cut" will be extinguished, and ETH is likely to be forced below 3000 in the short term, even experiencing a bullish trap followed by a drop. Remember to watch CVD (Cumulative Volume Delta); if someone dares to buy in, it will quickly be pulled back after the drop.

If the data is stable or lower than expected, the bearish momentum won't have the strength to push down twice. $3,000 will become the last area for bulls to cover their positions, and further upward movement will depend on whether there is capital entering to take over.

Key operation reminders:

1. It is not advisable to recklessly enter long positions tonight; 3K is just a hot zone, not a bulletproof wall. If there is a bullish trap pulling it higher, be wary of a drop to $2,850 to $2,870.

2. True stable long positions should wait until after the CPI release and see if the price can steadily recover the key level before proceeding.

Key observations:

1. Is there a real buy wall supporting the market?

2. Is there a clear hedging accumulation in CVD?

3. Can it quickly recover lost ground after a false breakdown?

The trading volume looks lively, but tonight the real answer the market gives you is who dares to support the market with real money. Those with patience only need to wait tonight for the market to show its cards.