Ethereum Hinges on US ISM PMI Breaking Key Level

The US ISM PMI printed 54.5, its ninth consecutive reading above 52, putting the economy in expansion territory and complicating the Fed's rate path.

This has left Ethereum traders waiting for a signal from the ISM data as it could support a larger crypto rally if it trends towards 60.

An analyst notes that an ISM breach of 56 historically preceded major Ethereum and altcoin cycles, including the 2017 move from $10 to $1,400 and the 2020-21 shift from $88 to $4,800.

The current sub-56 reading leaves short-term market direction uncertain, but if ISM moves higher towards 60, it could boost DeFi and altcoin adoption in 2027-28.