Tonight, the focus of the cryptocurrency market is on the release of the CPI data, with investors generally paying attention to its potential impact on future trends. Recently, the performance of Ethereum (ETH) has been relatively weak, which may stem from the cautious stance of institutional investors and some investors choosing to take profits.

Analyzing the current market situation, Ethereum shows support in the range of 4235-4255 on the 4-hour chart, which has attracted significant buying interest. Regarding the upcoming CPI data, its actual impact on the market may be limited, as the market seems to have already digested this expectation to some extent.

From a technical perspective, as long as the aforementioned support zone can stabilize effectively, the trend of ETH may still remain optimistic. In this case, $4500 will become the next important target price.

For investors interested in participating in trading, it may be worth considering entry opportunities in the range of 4235-4255 to establish long positions. More aggressive traders might even choose to enter near the current price. However, it is particularly important to pay attention to viewing 4150 USD as a key defense level. If the market continues to improve, the range of 4500-4600 USD will become a potential target area.

It is worth mentioning that although the market may be affected by CPI data in the short term, in the long run, Ethereum remains a strong fundamental platform for decentralized applications. When formulating trading strategies, investors should not only pay attention to short-term price fluctuations but also consider the long-term development prospects of Ethereum in the blockchain ecosystem.

Regardless, the high volatility of the cryptocurrency market means that investors should act with caution, manage risks properly, and make informed decisions based on their own risk tolerance and investment objectives.