Total value locked across Ethereum Layer 2s has rocketed past $52 billion, up 11.5% year-on-year. More transactions and liquidity on L2s means more demand for ETH as the settlement layer—bullish for Ethereum's long-term value.
$1,880 is the near-term support. A break below would test $1,800. Resistance sits at $2,000 (psychological) and $2,050 (52-week moving average). A CPI beat could push ETH toward $2,000 same-day.
Layer 2 growth, ETF inflows, and staking dynamics move Ethereum more than macro headlines. Even if CPI surprises hot, L2 ecosystem strength keeps ETH supported. Institutional confidence in Ethereum as settlement rails is the longer trend.
If the Fed pivots toward cuts in September, ETH could break above $2,000 and target $2,200-$2,400 over 4-6 weeks. If hawkish, ETH might consolidate $1,750-$1,950 until clarity emerges. L2 adoption keeps the longer trend bullish.
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