Ether's price action is tied to macro and geopolitical news, and this week's US CPI report is the next test. Ethereum developers also meet on Oct. 15 to discuss the Glamsterdam and Hegotá upgrades.
US inflation data lands on Wednesday, and it will test the interest-rate outlook for crypto markets. The September US CPI is due Oct. 14 at 8:30 a.m. ET, with the release arriving ahead of the Federal Reserve's October meeting.
September CPI estimated at 3.6% year over year
Estimates put the CPI at 3.6% year over year, up from 3.4% previously. Core CPI is estimated at 2.5% year over year, against 2.4% before.
According to investingLive, a higher than expected core reading could put a rate hike in October back on the table and weigh on the crypto market. A soft report, however, will likely give Ether a boost through falling Treasury yields and a weaker US dollar.
Geopolitics drove the latest selloff
Ethereum's recent moves have come mainly from macro and geopolitical developments, investingLive reports. US-Iran escalation risks triggered a broad crypto selloff, and some of the losses were pared after Trump ruled out strikes on Iran before the November elections.
Talks to reopen the Strait of Hormuz continue. A breakthrough would support Ethereum, while a renewed escalation would likely trigger another selloff.
On the four-hour chart, investingLive marks a resistance zone around 2,630. Buyers would look for a break higher, with 3,000 as the first target.
Developers meet on Glamsterdam and Hegotá
Separately, Ethereum developers hold All Core Devs Consensus call No. 189 on Oct. 15 at 10 a.m. ET, going over Glamsterdam and Hegotá. The same day brings US PPI, retail sales and jobless claims figures, according to investingLive.
Sources: CoinDesk, Investinglive
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