Ethereum Struggles Below $2,500 as Traders Await US Inflation Data
Ethereum's price has been stuck below $2,500 for several days, despite strong ETF inflows and some accumulation by larger holders. The token has repeatedly moved above this level since September 4 but failed to hold those gains, keeping it in a tight range.
The lack of direction comes as traders prepare for the US August Consumer Price Index report on September 11, which will be closely watched ahead of the Federal Reserve's policy meeting on September 15-16. The markets are pricing in a near 60% chance of a rate hike this month following stronger US employment figures.
According to data from CoinGecko, Ether is currently trading at around $2,480, up around 0.8% over the past seven days. However, despite strong institutional flows and some accumulation by larger holders, the token's price has struggled to break above its resistance zone.