Ethereum Price Holds Above $2,500: One Level Is Still Blocking The Way

$Ethereum is holding the $2,500 handle, but it is not moving with anything like the conviction $Bitcoin showed yesterday. ETH trades at $2,517.8, up marginally against a previous close of $2,507.6, after tagging $2,546.2 intraday and immediately giving the move back. The current 3 hour candle is actually down 0.35%.ETH/USD chartThat failed spike is the whole story, and it is the fourth time it has happened in two weeks.Why Is the Ethereum Price Holding Above $2,500?Ether is riding the same wave Bitcoin caught on Thursday. Fed Governor Christopher Waller's remarks pushed traders to price in a hold rather than a hike at the September meeting, the dollar sold off, yields eased, and every liquidity sensitive asset caught a bid. ETH went along for the ride from the $2,400 area back over $2,500.Underneath that, the structural bid is real. Ether gained 32.5% through August while spot ETF inflows crossed $1.852 billion in a single month and exchange reserves declined. Record ETF inflows alongside slightly lower open interest suggest spot buying rather than expanding derivatives exposure is supporting the recovery, which makes the move less fragile than one driven mainly by speculative cont...