ETH has gone down by 3% in the past 24 hours ahead of an important meeting that could set the tone for the next few weeks as the U.S. Federal Reserve prepares to announce its interest rate decision. Can another 25bps rate justify a bullish Ethereum price prediction?
The Federal Open Market Committee (FOMC) convened yesterday and will make a decision on interest rates today. The baseline scenario for analysts is that the Fed will reduce its benchmark rate by 25bps.
Data from FedWatch confirms this, as economists give a 99.9% probability to this. Nonetheless, President Donald Trump’s latest unexpected decision to increase tariffs by 100% on Chinese imported goods could prompt the Fed to reconsider and postpone that cut.
Although unlikely, if this happens, it would be a surprising turn of events that could cause a major drop in crypto prices.
Trading volumes for ETH have increased by 10% and currently account for more than 7% of the token’s circulating supply – a high level compared to historical trends.
Ethereum Price Prediction: ETH Bounces Off Key Support and Could Rise to $6K
Looking at the daily chart, Ethereum has found strong support at $3,800 and has already bounced off this level in the past few days. The token experienced some selling pressure at $4,200 ahead of today’s meeting.
If the Fed follows through with the market’s expected 25bps cut, crypto prices should continue to recover, and ETH could soon hit a new all-time high and rise to at least $6,000 as macroeconomic conditions will remain favorable.
President Trump’s measures could be considered noise, while the Fed’s cut may be deemed the signal for traders to jump back into the market, especially if crypto prices experience a strong boost.
As cryptos recover some of the territory they lost lately, top crypto presales like Pepenode ($PEPENODE) still offer the biggest upside potential. This project has raised nearly $2 million in a heartbeat to launch its fun and rewarding mine-to-earn (M2E) game.
Pepenode ($PEPENODE) Lets Players Mine Meme Coins with Zero Hardware
Mining cryptos no longers requires investing in expensive equipment as Pepenode ($PEPENODE) has launched a new game that allows players to set up virtual mining rigs and earn meme coins.
Users can launch as many rigs as they want by buying $PEPENODE and upgrade them to increase their output. As they climb the game’s leaderboard, they will get surprising rewards like airdrops of their favorite meme tokens – e.g. Bonk ($BONK) and Fartcoin ($FARTCOIN).
The project also adds a deflationary twist, as 70% of the tokens spent on upgrades will be burned forever to reduce the circulating supply.
As the game increases its popularity, the price of $PEPENODE could rise rapidly, meaning that early buyers will reap the highest returns.
To buy $PEPENODE before the next price increase, simply visit the Pepenode official website and link up your favorite wallet (e.g. Best Wallet).
You can either swap USDT or ETH for this token or use a bank card to invest.
The post Ethereum Price Prediction: Could the Fed’s Announcement Later Today Push the ETH Price To a New ATH? appeared first on Cryptonews.
