Saad Ullah
⬤ Ethereum's sitting just under the $3,171 mark right now, which has become a pretty important level to watch on the intraday charts. With CPI day coming up, there's a lot of uncertainty floating around—makes it tough to pick a clear direction before the numbers drop. ETH has been grinding its way up to this zone after bouncing back from recent lows, and you can see liquidity piling up around that prior high.
⬤ What we're seeing here is basically a balanced market where both sides still have skin in the game. Ethereum's been moving in a pretty tight range, with $3,171 acting as the ceiling and a solid floor around $3,060 from the last New York session. This kind of compression usually means traders are sitting on their hands, waiting for something to shake things loose—and CPI looks like it'll be that trigger.
⬤ The chart lays out a few different ways this could play out. If ETH pushes above $3,171 and grabs that liquidity but then breaks down structurally, we'd be looking at a move back toward that strong $3,060 low. On the flip side, if Ethereum actually claims the $3,171 level on the 1-hour timeframe and holds it, then a retest becomes interesting—with $3,300 being the next upside target. But if we lose that $3,060 support? Then the $2,970 monthly open comes into focus as the next major level.
⬤ This matters for crypto broadly because Ethereum tends to move aggressively when macro data like CPI hits. With price squeezed between clear liquidity zones, whatever happens post-CPI will likely set the tone for the next leg. Whether ETH breaks higher through resistance or drops toward deeper support will shape sentiment across digital assets as the market digests the macro signal.
Saad Ullah
