PCE has already been released, but ETH hasn't rushed to react.
This is actually the most interesting point to watch tonight.
The latest data shows that ETH is currently around $2700, once reaching above $2720 intraday, then pulling back. In the past few days, ETH has basically been fluctuating between $2650 and $2740.
Meanwhile, the macro background has also changed today.
US August PCE rose 0.3% month-over-month, below the market expectation of 0.4%, and core PCE rose 0.2% month-over-month. The market's pricing for an October rate hike has clearly retreated.
In theory, this should give some breathing room to risk assets.
But ETH has not directly broken out yet.
This is interesting.
It indicates that the market may now be more concerned not about the PCE itself, but whether Friday's nonfarm payrolls will continue to change rate expectations.
On the chart, the upper resistance is first seen around $2740–$2750, and support is near $2650.
If ETH cannot break out of this range before the nonfarm data, it means funds are still waiting for the final confirmation signal.
PCE has already been settled.
Now, the real pending question is the nonfarm payrolls.
#加息预期推迟，9月非农成下一关键$ETH
