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Ethereum drops 4% amid rising oil prices and inflation fears, testing key $2,400 support level.

Market News
11 Sep 2026
Blockonomi
View Source
Bearish
Ethereum drops 4% amid rising oil prices and inflation fears, testing key $2,400 support level.

Ethereum fell about 4% to around $2,420, pressured by a surge in crude oil prices above $105 and rising US Treasury yields, which increased inflation concerns and risk aversion among investors. August's Producer Price Index showed a 0.4% monthly rise and 5.4% annual inflation, boosting expectations for a Federal Reserve rate hike. Despite price declines, US spot Ethereum ETFs attracted $34.75 million in inflows, indicating ongoing investor interest. Ethereum now tests critical support at its 20-day EMA near $2,400, with further downside possible if this level breaks, while a weekly close above $2,550 is needed to resume upward momentum.

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