Ethereum Trades Below Key Resistance Level as Macro Pressures Counter ETF Inflows
Ether traded near 2,487 dollars as hotter inflation data and interest rate expectations countered recent spot ETF inflows and strong quarterly gains.
Ethereum traded around $2,487.51 after encountering resistance below the $2,550 level, marking a minor weekly decline within a broader $2,400 to $2,550 trading band. Market observers note that failing to secure a weekly close above $2,550 leaves the lower $2,400 boundary vulnerable, where derivatives data indicates over $1.21 billion in cumulative long liquidation exposure.
Macroeconomic developments exerted downward pressure as U.S. consumer price data showed an August inflation increase of 0.4% month-over-month and 3.4% annually, while producer prices advanced 5.4% yearly. In response, CME FedWatch pricing elevated the probability of a September interest rate increase to 87%, up from 72% the previous day, pushing Treasury yields higher.
Despite macroeconomic headwinds and technical resistance, institutional demand offered support as U.S. spot Ether exchange-traded funds recorded $216.4 million in net inflows on September 11, reversing a prior-day outflow of $29.9 million. Through September 13, Ether retained a third-quarter gain of 60.62%, while technical indicators such as the RSI stood at 58.92.
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