Ethereum Price Hit $2,600 Then Stalled: Here Is What Decides the Next Move

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Ethereum price tapped $2,600 for the first time since January, then faded. The Fed, the 200 EMA and a wall of ETH supply now decide the next leg.Ethereum spent most of the last three weeks doing very little, then packed an entire month of drama into a single session. On 11 September, $ETH ripped from roughly $2,437 to as high as $2,667, printed its first move above $2,600 in around eight months, and then handed most of it straight back. As of 14 September, the Bitstamp ETHUSD pair is trading near $2,505, up a rounding-error 0.19% on the session.That combination, a violent spike followed by three days of nothing, is the whole story right now. $Ethereum has the buyers. What it does not yet have is the follow-through. Below is the macro picture and the technical picture, and where the two collide.AdvertisementWhat Happened to the Ethereum Price This Week?The trigger was the August US Consumer Price Index, released on 11 September. Headline inflation came in at 3.4% year over year, ...