Ethereum CPI Rally Fails to Hold as FOMC Decision Looms
Ethereum's CPI rally showed strong short-term momentum, but its inability to hold above $2,600 changes the immediate setup.
The cryptocurrency briefly reached $2,665 before sellers pushed price back toward $2,500, making $2,600 the first level buyers need to reclaim before the recent high can be tested again.
ETF inflows and whale activity remain supportive, but the September 16 FOMC decision is now the main macro risk.
The Federal Open Market Committee's (FOMC) meeting on September 16 will determine whether ETH recovers above $2,600 or falls back toward $2,400. With a rate hike already heavily priced in, the Fed's guidance on what comes next could be crucial for Ethereum's price action.
The current setup remains neutral until Ethereum either reclaims $2,600 or loses the support structure around $2,400 to $2,500.