TradingGain-X

ETH dropped to $2,406 after yesterday's PPI print, but the market didn't wait around — it erased the entire drop and reclaimed $2,464 fast. That kind of snap-back doesn't prove much on its own, but it does show buyers are still active at these levels.

The real test is still ahead. Oil's holding above $100, rate hike odds are sitting around 70%, and CPI drops today. That combination is the risky part — if CPI comes in hot, hike probability climbs further and risk assets take the hit.

My focus is $2,350. If ETH holds above that through FOMC, $2,800-$3,400 becomes the next target. But if that level breaks, there's room to fall all the way to $1,900 — downside isn't something to brush off this time.

I'm sitting on the sidelines myself waiting for CPI and the Fed's tone, entering this week feels more like a gamble than a thesis right now.

What's your take — does a hot CPI actually send ETH down to test $2,350, or do buyers defend that level regardless?

#CPIWatch
$ETH