Ethereum Consolidates After Inflation Data, Analysts Eye $2,500 and $3,400 Targets

Ethereum's price has been consolidating over the last few hours after the Federal Reserve's preferred inflation measure came in below expectations, easing concerns about another interest-rate increase.

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

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

A less restrictive policy outlook could improve appetite for risk assets, which may support a sustained move higher in Ethereum's price.