Key takeaways
- ETH trades above $4,300, up slightly in the last 24 hours.
- Investors are focused on Federal Reserve Chair Jerome Powell’s speech at Jackson Hole later today.
Ether remains resilient despite bearish market backdrop
The cryptocurrency market has experienced increased volatility since the start of the week, and further price swings are expected in the hours ahead. Traders are positioning for potential moves as market participants wait for remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium.
Bitcoin continues to trade near $113,000, while Ether sits above $4,300, registering a modest gain of less than 1% over the past 24 hours. Ether’s resilience is supported by a recent JPMorgan report showing that spot ether exchange-traded funds (ETFs) attracted $5.4 billion in July—an inflow comparable to that of bitcoin ETFs. Since then, bitcoin funds have seen small outflows while ether-focused vehicles have continued to draw capital.
JPMorgan also noted that SEC approval of in-kind redemptions for ether ETFs would likely reduce costs, improve liquidity, and further enhance Ether’s competitive positioning relative to Bitcoin.
Eth could dip below $4,200 if Powell’s comments take a hawkish tone
The FOMC minutes released on Thursday confirmed a hawkish bias at the Federal Reserve, and many analysts do not expect the central bank to cut interest rates next month. In the near term, market direction could hinge on Powell’s remarks later today.
The ETH/USD 4-hour chart currently reflects bearish momentum, with Ether down roughly 7% over the past seven days. The relative strength index (RSI) sits around 51, indicating a neutral posture, while MACD lines point to a bearish undertone.
At the time of writing, ETH trades near $4,314 per coin. If the daily candle closes above the immediate support level at $4,232, Ether could extend its recovery toward the next daily resistance at $4,488. A sustained bullish move could propel prices back toward the annual high near $4,788.
However, given the broader market’s fragile condition, Ether may face a corrective leg if the $4,232 daily support fails to hold. A breakdown there could accelerate a decline toward the next meaningful support around $3,946.
Traders should monitor Powell’s speech and key technical thresholds closely. A hawkish tone that reinforces the Fed’s commitment to higher-for-longer interest rates could trigger downside pressure across risk assets, while a more dovish or neutral tone could restore some investor confidence and reduce short-term selling pressure in the crypto market.
Risk management remains important: stop-losses and position sizing should reflect the heightened volatility surrounding major central bank events. Watch volume and on-chain flows for confirmation of any breakout or breakdown, as ETF flows and liquidity changes are likely to influence price action in the coming sessions.