Ethereum briefly rose above $2,700 on September 30 after August U.S. personal consumption expenditures inflation came in below forecasts, then retreated to about $2,679 before trading at $2,711.54 on October 1, up 1.49% on the day. The softer data sharply reduced market expectations for a second consecutive Federal Reserve rate increase at the October 28, 2026, meeting, although estimates varied by venue and timing from roughly 45% to below 40%, with CME FedWatch and a newer reading placing the probability at 34% and about 39%-45%, respectively, compared with approximately 67%-70% earlier. Headline PCE inflation rose 3.4% year over year in August, below a reported 3.7% forecast, while core PCE rose 3.0%, below the 3.3% forecast. Ethereum remained above its 200-day exponential moving average at $2,462, with resistance at $2,816 and possible technical targets between $3,000 and $3,400, although analysts also cited a potential pullback toward $2,400-$2,500. Ethereum ETFs posted $2.81 million in outflows on September 29, ending seven consecutive days of inflows, but September net inflows reached $892 million.