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. According to CoinGecko, ETH is trading at around $2,480, up about 0.8% over the past week.

The lack of direction in Ethereum's price comes as traders prepare for the US August Consumer Price Index report on September 11. This will be the final inflation reading before the Federal Reserve's policy meeting on September 15-16.

Markets are pricing in a close to 60% chance of a rate hike this month following stronger US employment figures. The jobs report showed that US employers added 162,000 jobs in August, with average hourly earnings increasing by 0.3% from July and 3.1% from the previous year.

Even though institutional flows have remained positive, Ethereum's price has struggled to stay above $2,500. The token has repeatedly moved above this level since September 4 but failed to hold its gains, keeping it in a tight range.