Ethereum Stalls Near $2,5K Ahead of Crucial CPI Report
Ethereum's price remains near $2,500 as buyers defend the latest recovery. However, the second-largest cryptocurrency by market cap still lingers below resistance around $2,544 to $2,600 ahead of the August US Consumer Price Index (CPI) inflation report.
The immediate question is whether CPI can provide enough momentum for ETH to break the range that has held it between roughly $2,431 and $2,544. Recent exchange withdrawals point to mild spot buying, but derivatives activity has not strengthened at the same pace as price, suggesting traders remain cautious about using leverage near current levels.
A softer CPI reading could ease pressure on Treasury yields and support risk assets, potentially helping Ethereum challenge $2,544 and $2,600. A hotter reading could strengthen expectations for tighter monetary policy and make it harder for ETH to maintain the $2,500 area.