Ethereum Holds Ground Near $2,440 as Fed Raises Interest Rates
Ethereum's price remains steady near $2,440 after the Federal Reserve raised interest rates by 25 basis points on September 16. The Fed stated that economic activity is solid while inflation remains elevated, reinforcing its commitment to returning inflation to 2%.
ETH continues to hold inside a consolidation range that has controlled price since late August. This range spans from $2,350 to $2,600 with $2,500 acting as the main resistance area.
The next test for Ethereum is holding the $2,350 to $2,400 area and eventually reclaiming $2,500. A clean breakout above this level could put $2,600 and then $3,000 back into focus, while a breakdown below the consolidation floor would expose $2,250 and potentially the $2,000 to $2,100 region.
Ethereum's onchain supply picture is one of the more constructive parts of its current setup. Exchange reserve data from CryptoQuant shows ETH held on exchanges falling from above 21 million in the first half of 2025 to roughly 14.6 million now. Lower exchange reserves can mean fewer coins are immediately available for sale.