"U.S. consumer sentiment index 5-month low…Ethereum attempts to break 4800 dollars"

The U.S. consumer sentiment index hit its lowest level in 5 months, while Ethereum (ETH) prices are showing an uptrend, approaching the 4800 dollars level.

On the 13th, according to crypto asset (cryptocurrency) specialist media BlockBeats, the University of Michigan's preliminary September consumer sentiment index was 55.4. This was below both the market forecast (58.2) and last month's figure (58.2), marking the lowest level since May. The report analyzed that labor market unease and concerns about long-term inflation acted together.

The ETH price was trading at 4712 dollars, up 4.9% from the previous day on the Binance USDT market as of 16:40.

In the crypto asset market, Ethereum rose to near the 4800 dollars level immediately after the consumer sentiment index announcement. Cryptocurrency exchange Bitunix said, "The dual factors of worsening consumer sentiment and rising inflation expectations are increasing policy uncertainty," and "whether Ethereum can break the 4950 dollars resistance level and whether the 4450 dollars support level will hold will be key watch points in future volatility phases."