#美国核心物价涨幅不及市场预估 Ethereum($ETH) has recently experienced continuous net inflows on the chain, and the main driving forces behind this movement are worth paying attention to. From a technical perspective, it shows a stepwise gradual upward trend, with $3250 already evolving into a clear support level—each time the price retraces to this level, it receives buying support.

Interestingly, the recent gains have slowed down, but this may not be bad news. Often, such a pullback is an opportunity to accumulate positions and prepare for the next wave of upward movement. Against the backdrop of the Federal Reserve's core CPI data being below expectations, market expectations for improved liquidity are also heating up, which could provide momentum for a subsequent rebound.

From on-chain indicators, the accumulated funds are still increasing, indicating that institutions or large holders have not exited but are building or adding to their positions. Holding the support level means limited downside space, and the key is to observe whether the price can break through the previous high. Short-term patience and accumulation often lay the groundwork for medium-term gains.