Ethereum Sees Price Bounce Following Fed Inflation News

Ethereum's price rebounded after the Federal Reserve's preferred inflation measure came in below expectations, easing concerns about another interest-rate increase.

The Ethereum price rose from a session low of $2,655 to $2,730 following the release, a rebound of approximately 2.8%.

The improvement in sentiment coincided with encouraging onchain indicators and growing attention to Ethereum's upcoming Glamsterdam upgrade.

However, Ethereum has dropped below $2,700 and is now trading around $2,680 on Thursday.

Ethereum maintains a bullish outlook, but analysts anticipate further consolidation, potentially including a retreat toward $2,500 before a sustained move higher.