As of 17:15 on January 13th, Ethereum is trading around 3124 USDT, fluctuating within a narrow range from the morning until now, with a daily decline of less than 1% and a 24-hour volatility of approximately 3.46%. Trading volume has no particular highlights; both bulls and bears are waiting for a clear directional signal.

**Current Market Rhythm**

Price at 3124 USDT, down 0.58% intraday. Today’s high reached 3171, and the low was 3065. Market capitalization remains around 374.4 billion USD. The real variable comes tonight at 21:30—when the US December CPI data is released, it is very likely to directly determine the short-term trend, as Federal Reserve policy expectations often start shifting from this data.

**Technical Highlights**

Looking downward, 3100 is a psychological support (don’t underestimate these round numbers), with 3060-3070 being the true support zone. On the upside, 3135-3146 is the intraday resistance (close to the BOLL upper band). The real breakout target depends on the triangle’s upper boundary at 3250-3300.

On the 4-hour chart, the BOLL bands are tightening, MACD is oscillating near the zero line, and RSI is around 50. Overall, momentum appears somewhat soft. In this state, a trend reversal could happen at any time. From the daily chart perspective, it’s still in a downtrend (lower highs are forming), and only a volume breakout above 3250-3300 can reverse the weak trend.

**How to View This Market**

Before the CPI release, it’s best to stay cautious and observe. Hold off on chasing highs for now. If the price breaks above 3146 with increased volume, consider a light long position targeting 3250-3300. Conversely, if it breaks below the 3060 support, decisively cut losses. The next key psychological level to watch is 3000.

**Risks to Watch Carefully**

If the CPI data exceeds expectations, volatility could be intense. With trading volume so subdued now, a false breakout is quite possible. Be sure to strictly control your positions and never skimp on stop-losses.