FX.co ★ sandra75 | #Ethereum chart analysis

Hello everyone! Ethereum has fallen to the lower boundary of the range, so a rebound and movement toward the upper boundary are most likely, despite heightened macroeconomic uncertainty. Fundamental support for the cryptocurrency's growth is provided by: U.S. spot ETH-ETF funds have maintained positive fund flows for 12 trading days in a row, and the cumulative historical inflow has reached approximately $13.07 billion. Treasury public DAT-companies have accumulated and bought back from the market about 7.83 million ETH, or approximately 6.48% of the circulating supply. The largest corporate holder BitMine controls about 4.8% of Ethereum's supply. Yesterday's weak ADP hints at a decline in U.S. employment. Today's jobless claims may confirm this trend. In that case there will be no Fed rate hike. It was precisely the rise in the probability of tightening U.S. monetary policy that led to the decline in ETH starting on Friday. The nearest technical condition for growth remains holding $2 300–$2 350. A return above $2 438–$2 450 will open the way to $2 500, then to $2 600–$2 650. If $2 650 is broken the next target becomes $2 750–$2 800, and with the development of strong momentum — $2 900–$3 000. Main forecast: Ethereum growth from the $2 390–$2 400 area with the first target $2 450–$2 500 and potential continuation to $2 600–$2 800. A stronger bullish scenario — a move to $2 900–$3 000 after a break of $2 800.