$ETH bounced hard off the $2,000 level after the hot US CPI print (headline +0.4% vs +0.3% expected, core +0.3% vs +0.2%) sent the whole market lower. ETH tagged $2,010 on Nov 10 and buyers stepped in immediately, pushing price back above $2,040 — a clear wick rejection at the round-number support analysts flagged all week.
Why this setup: ETH is down ~4% in 24h with the market, but $2,000 held with a buying reaction and price is stabilizing above $2,040. BTC also reclaimed $73,800 after dipping below $73,000, easing panic selling. Risk/reward favors a long here with a tight invalidation just below $2,000.
Setup:
Direction: LONG $ETH
Entry: $2,040 - $2,060
SL: $1,985 (below $2,000 support)
TP1: $2,135
TP2: $2,240
Invalidation: a daily close below $2,000 — exit, next support $1,800.
Risk warning: CPI aftershocks and continued ETF outflows ($93M left ETH ETFs yesterday) can still push price lower. Size small and never risk more than you can afford to lose.
Not financial advice.