FX.co ★ sandra75 | #Ethereum chart analysis

Hello everyone! Ethereum has fallen to the lower boundary of the range, so a rebound and a move toward the upper boundary are most likely, despite increased macroeconomic uncertainty. Fundamental support for the cryptocurrency's growth is provided by: U.S. spot ETH-ETFs have maintained positive fund flows for 12 trading days in a row, and the cumulative historical inflow has reached approximately $13.07 billion. Public treasury 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 suggests 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 increased probability of U.S. monetary policy tightening 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 rise 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 breaking $2 800.