ETH has been relatively weak recently, and the ETH/BTC Exchange Rate is under continued pressure. Looking at the daily chart, the consecutive two days of higher trade volumes with long upper shadow bullish doji is a strong hesitation signal.

The short-term market is anchored to the US CPI data to be released tomorrow at 8:30 PM. Before the data is announced, it is expected to fluctuate between $4,250 and $4,380. If the data is positive, it may push ETH to attempt a breakout at $4,400, but the $4,450 - $4,500 range is a stronger resistance area that requires significantly higher trade volumes to break through; if the data is negative, it may quickly drop below the $4,250 support and then test the $4,150 - $4,050 area.

The worst-case scenario is a drop below $4,050, which could potentially form a daily head and shoulders or double top pattern, with a downward target possibly pointing to $3,800 or even $3,500.