FX.co ★ #Ethereum chart analysis

Hello everyone! ETH finishes the week up over the weekend, drawing close to recent highs. Investor positions are being buoyed by a noticeable return of institutional demand: Ethereum ETFs are again receiving significant inflows, and large corporate buyers continue to accumulate ETH. At the same time, Tom Lee's treasury company BitMine has approached accumulating 5% of the total Ethereum supply and is actively staking the acquired coins. The main short-term catalyst for the largest altcoin's rise next week— the US PPI on September 10 and the CPI on September 11. If inflation doesn't give a fresh strong impulse to expectations of Fed rate hikes, the market could begin to pare back overly tight rate expectations ahead of the September 15–16 meeting. For Ethereum, this could trigger a new upward impulse. My ETH level forecasts for the week look like this: a hold above $2 500 will lead to a move to $2 600 and then into the $2 700–$2 750 area. If the CPI shows a decline in inflation, ETH will move even higher to $2 850–$2 900 with a possible test of $3 000.