Ethereum remains stuck in a tight range as US CPI looms. What are the key levels to watch?

Ethereum’s near-term trading direction is expected to hinge on the upcoming U.S. CPI report, after recent moves were driven by shifting expectations for Federal Reserve policy. Comments from Fed Governor Christopher Waller initially boosted ETH, with markets interpreting them as room to keep rates unchanged in September unless inflation data comes in hot. However, a stronger-than-expected U.S. Nonfarm Payrolls report reversed those gains, reviving bets on a rate hike. The analysis says a CPI reading soft or in line could support another rally, while a hotter core monthly inflation print would likely trigger renewed selling. Technically, ETH is described as stuck between 2,360 support and 2,560 resistance, with downside targets near 2,100 and upside interest toward 3,400.