FX.co ★ sandra75 | #Ethereum chart analysis

Hello everyone! Ethereum has held positions above $2 500–2 560 despite the rise in US bond yields. Therefore, technically the altcoin looks stronger than Bitcoin and fundamentally as well. On September 11 US spot-ETH ETFs saw about $216 million in net inflows, while Bitcoin ETFs recorded about $13.3 million in outflows. In August ETH-ETF attracted about $1.75 billion, the best monthly result in a year. At the same time about 34% of the ETH supply is in staking, which reduces the available supply. The main risk for the crypto market is the FOMC meeting on September 16. A high rate and rising Treasuries yields may trigger profit-taking after a strong rally. But if the market interprets the decision as a signal of further easing ahead, ETH will receive an additional boost. I will trade long, the first target $2 700–2 750, then $2 950–3 050. A close above $3 060 opens the way to $3 200+. Losing $2 350 cancels the bullish scenario and increases the risk of a pullback to $2 200–2 250.