FX.co ★ #Ethereum chart analysis

Hello everyone! Ethereum has held positions above $2 500–2 560, despite the rise in U.S. Treasury yields. Therefore, technically the altcoin looks stronger than Bitcoin, and fundamentally as well. On September 11, U.S. spot-ETH ETFs received about $216 mln of net inflows, while Bitcoin ETFs registered about $13.3 mln of outflows. In August ETH-ETFs attracted about $1.75 bln, the best monthly result in a year. At the same time about 34% of ETH supply is staked, reducing the available supply. The main risk for the crypto market is the FOMC meeting on September 16. High interest rates and rising Treasury yields could trigger profit-taking after the strong rally. But if the market interprets the decision as a signal of further easing ahead, ETH will receive additional momentum. I will trade from the long side, 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 invalidates the bullish scenario and raises the risk of a pullback to $2 200–2 250.