FX.co ★ sandra75 | #Ethereum chart analysis

Hello everyone! Ethereum continues to move sideways despite important news. $2,500 remains the main barrier, so there's no point trading the chop. ETH calmly "swallowed" the Fed rate hike and the failure of the Clarity Act vote. Even the rise in Treasury yields failed to take investments away from the altcoin. The main negative factor — the Fed. On September 16 the rate was raised by 25 bps to 3.75–4.00%, and the updated rhetoric left the possibility of further tightening. For ETH this means tighter liquidity conditions and pressure on risk assets. U.S. spot ETH ETFs reacted on September 16, recording $224.1 million of net outflows, after $142.3 million the day before. However, institutional demand has not disappeared completely: in August the funds received about $1.84 billion of inflows. Today U.S. industrial production will be released, and later there will be speeches by Fed officials. Strong data or hawkish rhetoric could increase pressure on ETH. Nearest support — $2,400, next — $2,280. Resistance — $2,500, then $2,560. Primary target — $2,560, alternative — $2,650. The bullish scenario is invalidated if there is a close below $2,360, after which the path to $2,280 opens.