Million

Ethereum

Polymarket

Wednesday

<h3 id="tldr">TLDR</h3><ul><li>Ethereum declined approximately 4% to the $2,420 level following crude oil’s rally beyond $105 and rising Treasury yields</li><li>August PPI data showed a 0.4% monthly increase, with annual inflation reaching 5.4%, boosting rate hike probabilities</li><li>Prediction markets indicate a 62% likelihood of a Federal Reserve rate increase next week</li><li>US-based spot Ethereum ETFs attracted $34.75 million in net capital on Wednesday amid declining prices</li><li>Ethereum is now testing critical support at its 20-day EMA, positioned around $2,400–$2,405</li></ul><p>Ethereum experienced a decline of nearly 4% throughout the last 24-hour period, settling around the $2,420 mark and threatening the crucial $2,400 support threshold. The digital asset reached an intraday peak of $2,512 on September 10 before bearish momentum took over.</p><figure id="attachment_209675" style="width: 100%" class="wp-caption aligncenter"><img class="size-full wp-image-209675" src="https://blockonomi.com/wp-content/uploads/2026/09/chart-34-1.webp" alt="Ethereum (ETH) Price" width="1824" height="1248"><figcaption id="caption-attachment-209675" class="wp-caption-text"><a href="https://www.coingecko.com/en/coins/ethereum?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">Ethereum (ETH) Price</a></figcaption></figure><p>The downward movement coincided with a substantial rally in energy markets. Brent crude broke above the $105 per barrel threshold while WTI crossed $100, propelled by escalating Middle East geopolitical tensions and supply disruption concerns. Simultaneously, US 10-year Treasury yields advanced toward the 4.9% level.</p><p>Elevated oil prices typically sustain inflationary pressures. This dynamic, coupled with climbing yields, prompted investors to reduce exposure to risk-sensitive assets including cryptocurrencies.</p><p>Economic data reinforced the bearish sentiment. The Producer Price Index measuring final demand increased 0.4% during August. Year-over-year, PPI inflation accelerated to 5.4% from the previous 4.8% reading, with energy costs contributing a 4.2% gain.</p><div class="embed-x"><blockquote class="twitter-tweet"><p><a href="https://x.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> has been ranging between $2,450 and $2,550 for weeks now.</p><p>For another leg up, Ethereum needs a weekly close above $2,550. <a href="https://t.co/39zj2zzqGh" rel="noopener noreferrer nofollow">pic.twitter.com/39zj2zzqGh</a></p><p>— Ted (@TedPillows) <a href="https://x.com/TedPillows/status/2097978385234600208?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 10, 2026</a></p></blockquote></div><p>Market analyst Ted Pillows highlighted on X that Ethereum has been consolidating within a $2,450 to $2,550 corridor for several weeks. According to his assessment, ETH requires a weekly closing price above $2,550 to trigger the next upward movement.</p><h3 id="etf-demand-remains-constructive">ETF Demand Remains Constructive</h3><p>Notwithstanding the price weakness, US spot Ethereum exchange-traded funds registered $34.75 million in net positive flows on Wednesday. BlackRock’s staking-enabled ETHB product dominated with $22.94 million, while ETHA contributed an additional $9.71 million.</p><div class="embed-x"><blockquote class="twitter-tweet"><p>Bitcoin Spot ETFs Saw Total Net Outflows of $283 Million Yesterday, Marking Three Consecutive Days of Net Outflows</p><p>On September 10 (ET), Bitcoin spot ETFs recorded total net outflows of $283 million, marking three consecutive days of net outflows. Ethereum spot ETFs saw total… <a href="https://t.co/v4FFtB67Z8" rel="noopener noreferrer nofollow">pic.twitter.com/v4FFtB67Z8</a></p><p>— Wu Blockchain (@WuBlockchain) <a href="https://x.com/WuBlockchain/status/2098271829731529130?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 11, 2026</a></p></blockquote></div><p>This follows a $24.29 million withdrawal on September 8 and modest $2.1 million inflows on September 9. Weekly accumulation has moderated to $218.4 million after achieving a yearly peak of $824 million during the previous week.</p><p>Financial markets are increasingly anticipating tighter monetary conditions. Polymarket data reveals a 62% probability for a rate increase at the Fed’s September 15–16 policy meeting, escalating to a 71% likelihood by October.</p><p>Retail participants offloaded 307,000 ETH during the past week, substantially exceeding the 82,000 ETH accumulated by whale addresses. Ethereum experienced $88 million in forced liquidations over 24 hours, with long positions accounting for $73.2 million of that total.</p><h3 id="critical-technical-levels-in-focus">Critical Technical Levels in Focus</h3><p>Ethereum continues trading above its 20-day, 50-day, 100-day, and 200-day exponential moving averages. The 20-day EMA is positioned near $2,404, establishing the $2,400–$2,405 zone as the primary support area under observation.</p><figure id="attachment_209676" style="width: 100%" class="wp-caption aligncenter"><img class="size-full wp-image-209676" src="https://blockonomi.com/wp-content/uploads/2026/09/ETHUSD_2026-09-11_06-31-18.webp" alt="" width="1306" height="877"><figcaption id="caption-attachment-209676" class="wp-caption-text"> Source; TradingView </figcaption></figure><p>A confirmed daily close beneath $2,400 would activate the $2,350–$2,360 range as the next downside target. Further weakness could expose the $2,300 level and subsequently the 50-day EMA positioned near $2,222.</p><p>The Relative Strength Index currently registers near 59, suggesting a marginally bullish bias though momentum is decelerating. The Chaikin Oscillator has crossed below the zero line, signaling diminished accumulation pressure following August’s breakout rally.</p><p>For upside scenarios, initial resistance appears at $2,545, followed by $2,626 and $2,787. Ethereum posted approximately 37% gains over a 10-day stretch before the current correction, achieving a cycle high of $2,564.</p><p>The post <a href="https://blockonomi.com/ethereum-eth-price-under-pressure-as-crude-oil-surges-past-105-and-fed-rate-hike-odds-reach-62/" rel="noopener noreferrer nofollow">Ethereum (ETH) Price Under Pressure as Crude Oil Surges Past $105 and Fed Rate Hike Odds Reach 62%</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

Ethereum (ETH) Price Under Pressure as Crude Oil Surges Past $105 and Fed Rate Hike Odds Reach 62%

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