First major support: $1,850. Below that: $1,800. If ETH closes below $1,850 for two consecutive sessions, it signals a potential deeper correction into $1,750 or $1,700.
$1,900 acts as resistance on a retest. A clean reclaim of $1,900 with volume would signal institutional demand is returning. $1,950 is the next overhead target.
Weak market momentum, pre-CPI caution, and leveraged traders closing longs. Fourth-quarter ETH ETFs saw $49.60 million in inflows on August 7, suggesting institutional demand persists despite the price dip.
A cool CPI print (lower inflation) could spark a quick 2-3% ETH rally back to $1,900. A hot print (higher inflation) could push ETH lower toward $1,800.
If you're bullish on Ethereum, the $1,850–$1,800 zone offers better risk/reward than chasing above $1,900. Wait for Wednesday's CPI to show where the market's true conviction lies.
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