This Elliott Wave analysis on Ethereum is quite insightful, especially for traders watching the wave II retracement between $2,295 and $2,250. If price action consolidates in this zone, it could offer a great buying opportunity for a potential wave III breakout above $2,873.50. Managing risk with a stop loss below $2,060 is a prudent approach.

The upcoming economic data release could indeed be pivotal for market sentiment. If core PCE inflation shows only a 0.1% increase and personal spending is weak, it strengthens the case for a July rate cut. The possibility of earlier Fed cuts may not only ease U.S. rates but also create dovish momentum across the eurozone. A stronger euro adds to disinflation pressures, potentially pushing forecasts back to a 1.5% terminal rate. Markets are watching closely, and any softness in the data could swiftly shift expectations in favor of easing.