Ethereum Price Teeters on Edge of $2,400 as Selling Pressure Continues
Ethereum's price has fallen roughly 2% over the past 24 hours to trade near $2,480 on September 15, putting it at risk of slipping below $2,400 if selling continues.
The decline followed a sharp rejection from an intraday high near $2,606, extending Ethereum's repeated failure to establish $2,500 as support.
Macro uncertainty has weighed on the latest attempt, with the Federal Reserve due to announce its interest rate decision on September 16. Markets have moved towards expectations for tighter monetary policy, with recent market estimates putting the probability of a rate increase above 80%.
Institutional demand has remained positive despite the price decline, with US spot Ether exchange-traded funds recording roughly $216.4 million in net inflows on September 11.