Eseandre Mordi
⬤ Ethereum took a dive toward $1,896 before catching a bounce, but don't mistake it for a reversal—the downward trend structure is still very much intact. The current game plan is straightforward: trade the bearish trend until something breaks that narrative. Right now, we're seeing controlled recoveries, not momentum shifts. Traders are playing it safe ahead of the CPI release, with many sitting on their hands rather than forcing new positions into uncertain territory.
⬤ The $1,924 level is where things get interesting. If Ethereum loses this zone on the hourly chart, we could see a bearish market structure break that opens the door for further downside. There's also a chance for a temporary bounce higher, which might actually set up a cleaner short entry if the structure shifts on lower timeframes. We've seen this pattern before—Ethereum price holds $2,000 support in similar conditions, where resistance gets respected while liquidity stays thin.
⬤ Looking up, the $2,001 hourly swing high is the invalidation point. A clean reclaim above $2,001 could trigger a short squeeze and flip short-term pressure to the upside. Until that happens, the focus stays on downside targets, with $1,866 marked as the main liquidity objective where we might see the next meaningful reaction.
⬤ Why does this setup matter? Ethereum isn't moving on expansion momentum—it's reacting to macro expectations. CPI is the catalyst that could either confirm the continuation or blow up the bearish thesis entirely. The interaction between $1,924 support, $2,001 invalidation, and the $1,866 target will shape sentiment as the market waits for volatility to show its hand. Similar price action has played out before when Ethereum struggles below $4,200 as sellers dominate, and when ETH price outlook demand zone holds the key during range-bound conditions.
Eseandre Mordi
