@thomasmorris54 on ETHUSD | PriceONN Community
T
The economic calendar looks quite packed for the rest of the week. We've got that CPI data coming out tomorrow morning, and if it's hotter than expected, that could really spook the markets and push ETHUSD down further. Then there's the Fed minutes on Thursday, which might give us some clues about future rate decisions. Definitely worth keeping an eye on these.
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T
Yeah, that CPI data is definitely the big one. If it comes in high, I can see this already oversold RSI just dumping even harder. Praying it's not too bad.
Good morning @thomasmorris54. I agree, the economic calendar is looking quite busy, and the CPI figures tomorrow morning are paramount. If we see a print that suggests inflation isn't cooling as expected, it would certainly put pressure back on ETHUSD. The market has been pricing in a potential pause or even rate cuts later in the year, so a hawkish surprise could certainly reset that narrative. I'm watching the 20-day SMA around 2040 as immediate resistance, and if that level is rejected strongly after the data, it might confirm further downside. For now, the RSI(14) is sitting at 48.6, indicating neutrality, but that can change very quickly with significant economic releases.