Market sentiment is cautious ahead of tonight's CPI data
ETH has been consolidating in the 2930-2990 range. Although BTC is pressured by large whale transfers and tariff policies, ETH has shown strong resilience against declines. Currently, there is significant support near 2930.
From a technical perspective, there is short-term selling pressure around 2990-3000. However, if the CPI data is favorable, ETH may quickly break through the resistance level and test 3020.
It is recommended to gradually accumulate long positions in the 2910-2930 range, with a stop loss below 2880 and a target of 2990-3020.
Aggressive traders can try small long positions near 2950 during a sharp drop, but must control their position size to guard against spike risks. Overall, the bearish sentiment has been gradually digested, and there is limited room on the downside. Focus on observing the volume dynamics after the CPI release.
