Ethereum’s price declined sharply, shedding 6% following the Federal Reserve’s announcement to maintain its current interest rate policy. The decision triggered a sell-off in the broader crypto market as investors reassessed risk assets amid the Fed’s cautious tone on inflation. Ethereum dropped to $3,580, inching closer to the crucial $3,550 support level, which analysts believe could determine the next price trajectory.
Source – FXStreet
Traders now watch whether Ethereum can hold the $3,550 level, a key technical area that has previously provided strong support. A bounce from this zone could signal renewed buying momentum, while further weakness might open the door to additional declines. As the market digests the Fed’s outlook, Ethereum remains at the center of investor focus in the volatile crypto landscape.
