Ethereum has been consolidating over the last 24 hours after the Federal Reserve's preferred inflation measure came in below expectations, easing concerns about another interest-rate increase. ETH rose from a session low of $2,655 to $2,730 following the release, a rebound of approximately 2.8%. The improvement in sentiment coincided with encouraging onchain indicators and growing attention to Ethereum's upcoming Glamsterdam upgrade. However, Ethereum has dropped below $2,700 and is now trading around $2,680 on Thursday. Ethereum maintains a bullish outlook, but analysts anticipate further consolidation, potentially including a retreat toward $2,500 before a sustained move higher. Softer PCE data reduces rate-hike expectations August's headline Personal Consumption Expenditures price index showed annual inflation of 3.4%, approximately 0.