$ETH
š Price Action
Ethereum is currently trading around $2,858, with intraday highs near $2,871 and lows near $2,735, showing some volatility and modest gains.
Recent bullish momentum ahead of U.S. inflation data suggests investor optimism, with ETH approaching the $2,800 mark .
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š Market Drivers
Macroeconomic outlook: Rising crypto pricesāincluding ETHāare tied to positive sentiment before key U.S. inflation numbers .
Institutional inflows: ETH investment products saw strong net inflows (around $296 million last week), marking its 7th straight week of inflows and totaling approximately $1.5 billion .
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š Technical & OnāChain Insights
Staking records: The amount of ETH staked is at an all-time high (~34.8M ETH, ~28% of supply), which reduces liquid supply and can support price .
Crypto market trend: ETH and other altcoins are displaying a rally across the board, with some moving up by 8ā11% recently .
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š§ What to Watch Next
1. U.S. CPI release: If inflation data comes in cooler than expected, it may fuel further rally in crypto.
2. Key resistance: ETH reaching or breaking $2,900ā3,000 could trigger a technical breakout.
3. Institutional interest: Continued inflows would reinforce short-term bullish trends.
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Summary
Ethereum has shown strong upward movement ahead of today's inflation data, driven by macro sentiment and institutional buying. At ~$2,860, it's flirting with key resistance levels, with staking hitting record highs supporting its price. The upcoming CPI release and whether ETH can break into the $2.9Kā3K zone will likely chart the next move.
