Ether price eyed fresh highs as it held above a key trendline, with markets betting on a 96% chance of Fed cuts and further easing this year.
Ethereum’s native token, Ether (ETH), has fallen 5.73% from its weekend high near $4,766, retreating as traders trim risk ahead of Wednesday’s Federal Reserve interest rate decision.
The pullback reflects caution in the market, but the bigger question is whether the Fed’s potential dovish shift could reignite Ethereum’s rally and how far its next move might extend.
Ether bulls are defending the 20-day exponential moving average (20-day EMA; the green wave) near $4,450, showing resilience as markets price in a 96.1% chance of a Fed rate cut this week, up from 85.4% a month ago, with two more reductions expected by year’s end.