According to CoinMeta, the price of Ethereum fell by 2.4% to reach a intraday low of $1,872 due to traders selling off in reaction to U.S. inflation data, causing the price to drop below $1,900 and test a key support level. According to data from the U.S. Bureau of Labor Statistics, overall inflation rose 0.1% month-on-month and 3.4% year-on-year in July. Core inflation rose 0.2% month-on-month and 2.5% year-on-year. All four figures met market expectations. The results eliminated the risk of an inflation surprise but did not provide traders with a reason to continue the upward trend. Ethereum had risen to around $1,918 before the report was released, but then accelerated its decline due to profit-taking. The current price of Ethereum is around $1,875, and if this support level is lost, it could fall further to around $1,835.