After the release of CPI data in the United States in July, it rose to the vicinity of US$ 1918, but then returned to the amount of US$ 1872, the lowest in the disk, falling again below US$ 1900. Inflationary data did not exceed expectations and markets lacked new upward mobility, and short-term funds then turned to profit.

$1875 is a short-term focus.

The data show that the overall CPI ring ratio in the United States increased by 0.1 per cent in July and 3.4 per cent in the same year; the core CPI ring ratio increased by 0.2 per cent and 2.5 per cent in the same year, all in line with market expectations. For risk assets, this means that inflation has not created new surprises and has not contributed to the continuation of ETH.

ETH fell through a short-line support near $1887 and quickly went down to $1872. The current market is primarily concerned with the viability of the $1875 line, which is considered to be the lower zone of recent shocks.

If the purchase was to re-emerge at this location, the price would have had the opportunity to return to the level above $1888 and to retest the 1919-1925 resistance zone. If we can get back on this area, it's possible for the market to look further at 1950 dollars, or even closer to 2000 integers.

There's a lot of clearing around 1950 dollars.

CoinGlass’s one-week settlement hottest attempts to show that there is a greater concentration of liquidity above the current fare, especially between 1945 and 1955 dollars, and that there is a certain amount of leverage in the vicinity of 1925 and 1970 dollars.

Such areas tend to attract price proximity, since once critical resistance is breached, empty silos may magnify volatility. So, if ETH goes through $1920 again, the speed of rushing up to 1950 could accelerate.

Below, there is also some liquidity in liquidation around $1850 and $1835 to $1840. If prices continue to weaken and fall below the short line, some of the multiple positions may be further pushed out of the market.

Declining fees to suppress narratives

In addition to the post-CPI short-term gain-back discussion, there has been ongoing discussion in the market about the decline in the fees of the private network. As the Layer 2 network expands, the transaction costs for users have decreased significantly, but the process fees received by the main network have been reduced simultaneously, which has also affected the destruction rate of ETH.

According to the study cited, by March 2026, the median handling fee for the Taifung Main Network had fallen from over $2 to less than 0.02 and the median handling fee for Layer 2 had fallen by over 95 per cent. Lower costs favour user activity, but at a weak demand stage they also weaken market expectations of contraction in ETH supply.

Overall, ETH is still running weakly under $1920. If US$ 1875 fails, the next step may be to look at the vicinity of US$ 1857, followed by the area of US$ 1835 to US$ 1850; if US$ 1920 is repositioned, the first line of US$ 1950 may be tested again.