Ethereum Whale Confidence Amidst CPI Fears

Ethereum is defending a critical support range between $1,720 and $1,780, which is vital for maintaining bullish momentum in the market.

A strong breakout above $1,875 could push ETH toward $2,200, but losing this support may lead to further declines.

A major whale has accumulated about $170 million in ETH recently, staking a large portion of it, signaling confidence in the asset's long-term outlook.

However, rising sell pressure and $14.59 million in ETF outflows on August 10th reflect caution ahead of the U.S. Consumer Price Index report, which could significantly influence Ethereum's near-term price direction.