Ethereum is currently pulling back from a resistance level at 3200. Technical analysis identifies key support levels between 3070 and 3000, which are confluent with the 7-day rolling VWAP and the previous month's Point of Control. Earlier bullish momentum created significant market imbalances, with 'single prints' observed around the 2900 price point. The market is experiencing reduced liquidity and decreased momentum for Ethereum. Upcoming high-impact news, specifically the Core PCE Price Index and PCE Price Index data, is anticipated to introduce considerable volatility, influencing monetary policy expectations in the United States, which inherently affects the cryptocurrency market. Despite potential news-driven volatility, the recent Fusaka upgrade has injected positive fundamental attributes into Ethereum, fostering an underlying optimistic market sentiment. The current projection suggests a continued pullback into the 3070-3000 support range, followed by a period of consolidation. A decisive downward breach below 2900 is not expected under prevailing conditions unless adverse news events materialize. Post-consolidation, a rally towards the 3300-3400 range is anticipated, potentially materializing within the next week, contingent on favorable market developments or news. The 2900 level serves as a critical invalidation point for the projected bullish trajectory.