Ethereum reclaims $2,400 as falling Treasury yields ease inflation pressure
Photo: CoinJournal
Key takeaways Ethereum recovered above $2,400 after briefly falling toward $2,340 following hotter-than-expected US producer inflation. September PPI rose 6.3% annually, while core PPI reached 5%, both exceeding forecasts. Support stands near $2,355, while resistance between $2,496 and $2,552 could challenge the recovery. Ethereum rebounds after producer inflation surprise Ethereum recovered above $2,400 on Friday after a stronger-than-expected US wholesale inflation report briefly pushed the cryptocurrency toward $2,340. September’s Producer Price Index increased 1.3% month-over-month and 6.3% annually, exceeding forecasts of 0.5% and 5.3%, respectively. Core PPI, which excludes food and energy prices, also surpassed expectations.
Source: CoinJournal
