Analysts pointed out that against the backdrop of U.S. PPI forecasts, Ethereum prices face a key tes

Key Insights on Ethereum Prices

Ethereum Prices need to close above US$2,550 on the weekly basis to support another round of gains. Bitblaze compared the weekly exponential moving average (EMA), while Tardigrade tracked a five-year triangular pattern. The U.S. producer price index (PPI) is expected to be 5.3%, and is expected to be released at 8:30 a.m. EST.

As of press time, Ethereum prices were around US$2,466.54, and CoinGecko data showed it fell 0.9% in 24 hours. CoinGecko data also showed that ETH traded between $2,445.10 and $2,517.55. It is worth noting that Ethereum prices briefly exceeded $2,510 and then fell back. The subsequent rally failed to stabilize above $2,480, establishing that level as the most recent intraday resistance.

Ethereum prices require this weekly closing confirmation

During the same trading session, buying orders defended the support area of US$2,445 -2,460 multiple times. However, Ethereum prices were still below the intraday mid-point. This position directs attention to the range of weekly lines Ted Pillows focuses on.

Extended the time frame, Pillows identified a consolidation range of $2,450 -2,550 in which ETH had been consolidating for several weeks. The structure follows Ethereum's sharp rebound from June lows. His analysis required weekly closing prices to break through the upper boundary to confirm the beginning of another round of gains. The resistance level marked by the chart is approximately $2,547.

Below this resistance level, the 50-week simple moving average is around $2,511. This level adds another technical hurdle around current Ethereum prices. The simple average is within the broad range of $100 defined by Pillows, while the exponential moving average is below its lower edge of $69. If ETH confirms a breakthrough, Pillows 'chart points the next major resistance level to $2,800.

In contrast, the 50-week exponential moving average provided the first dynamic support level of approximately $2,381. Ted Pillows pointed to broader downside support around $2,215. His chart points out that if selling pressure increases, the next target is $1,965.

Analysts compare the broader Ethereum price structure

In addition to the price points pointed out by Pillows, Axel Bitblaze focuses on ETH trading between the 50-week and 100-week exponential moving averages. He compared the emerging layout with previous structures involving the same weekly indicators.

During that early period, ETH experienced significant fluctuations for several weeks. The price produced a long shadow line on both sides and finally broke through upward. Bitblaze reports that the current weekly chart shows a similar structure. Based on this comparison, Bitblaze expects to experience additional volatility and sideways consolidation before sharp movements occur.

Over a longer time frame, Trader Tardigrade identified a failed rising triangle on the monthly Ethereum price chart. He said that the structure has taken nearly five years to form. In addition, he described this as a strong bullish reversal pattern in technical analysis. In this pattern, the Ethereum price first fell below the support level and then reversed into the inside of the triangle. Tardigrade described the initial trend as a false breakthrough by trapping sellers. According to his interpretation, this failed breakthrough now supports rapid upward movement. His monthly price target is $25,000.

U.S. PPI scenarios bring macroeconomic tests

Along with these chart structures, the U.S. producer price index (PPI) report will be released at 8:30 a.m. EST. Market expectations set a forecast value of 5.3%. Prospects relate each possible reading to interest rate expectations and the reaction of market prices.

In the first scenario, an outcome above 5.3% will increase the probability of a rate hike. This could also cause a decline in the broader market. Therefore, hotter's reading represents the bearish case described in the forecast.

However, a result of 5.3% would create a neutral scenario within this framework. The market reaction began with a moderate decline.

Alternatively, a reading below 5.3% will reduce the possibility of a rate hike. Scenarios provided link lower results to possible market gains. It is worth noting that these three paths depend entirely on how the actual published values are relative to the predicted values.