$ETH I noticed the very narrow range ETH is currently squeezed into, and it’s no coincidence — the price is holding between two specific levels, both of which are explained by this week’s calendar, not just technicals.
On the downside is $2495.93, a level the price has already bounced off once on October 9 and retested on October 12–13. On the upside is the 20-day EMA at $2599, which has acted as a ceiling for every rebound for the third week in a row: ETH has reclaimed the 50-day EMA ($2502), but still can’t break through the 20-day EMA.
Two fixed deadlines this week are keeping this range compressed: Wednesday’s CPI release and Friday’s options expiry. CPI matters more — it will determine whether the path to $2575–2600 opens up, or whether holding $2495 comes into question, with the $2406–2438 support cluster as the next stop.
One telling detail: someone just opened a $60.7 million long on Hyperliquid, betting specifically on support holding and a rebound to $2575+. The big players have already placed their bets before the data comes out.
Opening a position ahead of such a specific macro event means betting on the CPI figure, not on market structure — for now, I’m watching from the sidelines.
$ETH #Ethereum #CPI
On the downside is $2495.93, a level the price has already bounced off once on October 9 and retested on October 12–13. On the upside is the 20-day EMA at $2599, which has acted as a ceiling for every rebound for the third week in a row: ETH has reclaimed the 50-day EMA ($2502), but still can’t break through the 20-day EMA.
Two fixed deadlines this week are keeping this range compressed: Wednesday’s CPI release and Friday’s options expiry. CPI matters more — it will determine whether the path to $2575–2600 opens up, or whether holding $2495 comes into question, with the $2406–2438 support cluster as the next stop.
One telling detail: someone just opened a $60.7 million long on Hyperliquid, betting specifically on support holding and a rebound to $2575+. The big players have already placed their bets before the data comes out.
Opening a position ahead of such a specific macro event means betting on the CPI figure, not on market structure — for now, I’m watching from the sidelines.
$ETH #Ethereum #CPI