FX.co ★ #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 recorded about $216 million in net inflows, while Bitcoin ETFs saw about $13.3 million in outflows. In August ETH ETFs attracted about $1.75 billion, the best monthly result in a year. At the same time, about 34% of ETH supply is in staking, which reduces the available supply. The main risk for the crypto market is the FOMC meeting on September 16. High 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 get additional momentum. I'll be trading long, first target $2 700–2 750, then $2 950–3 050. A clear hold above $3 060 opens the way to $3 200+. Loss of $2 350 invalidates the bullish scenario and increases the risk of a pullback to $2 200–2 250.