FX.co ★ sandra75 | #Ethereum chart analysis

Ethereum continues to develop a sideways trend while attracting institutional funds.. Over the week through September 4 inflows into Ethereum-ETF amounted to about $215 mln, although they have noticeably slowed compared to the end of August. Crypto investors have taken a pause and are not forming a trend due to uncertainty in Fed policy. The market prices in about a 60% probability of a rate hike on September 15–16, and a strong August jobs report increased the likelihood of tightening. At the same time, oil's rise toward nearly $100 is intensifying inflationary concerns. There are no significant macro data today; speculators are trying to decipher the PPI data on September 10 and the CPI on September 11. If US inflation comes in below expectations, expectations of a Fed rate hike will weaken, which could restore demand for ETH and other risk assets. I still expect Ethereum to recover to $2 550–2 600. A close above $2 600 will open the way to $2 650–2 700. The nearest support is around $2 450, and a break of $2 400 would increase the risk of a decline to $2 300.