- Ethereum price action over the weekend sees bulls taking the money and running for the hills.
- ETH price saw traders perceiving the job numbers out of the US as a positive element.
- The Fed sticks to its mantra of hiking further until inflation comes down.
Ethereum (ETH) price action popped higher by over 7% on Friday after the US job numbers. Traders perceived the number as positive, because it could point to the Fed slowing its murderous rampage of hiking ferociously. Instead, the penny dropped over the weekend, with traders claiming their winnings as the realisation came that the Fed will not stop just yet and will push forward, overshooting the market’s initial target for the terminal rate.
ETH price sees markets repricing after last week
Ethereum price action is undergoing a reshuffle and rebalancing after markets finally got some more insight from the Fed on Wednesday. Markets are reacting to small moves in economic numbers that point to a possible slowdown from Fed hiking. There is room for some easing, and markets are using that window to move away from the lows of the year, but that does not mean a substantial change in the overall tail risk in the markets.
ETH price saw traders quickly book gains over the weekend and already erased most gains from Friday after the job numbers in the US. Expect to see another leg lower than $1,500 as equity futures in Europa and the US point to more losses. Technically, that would make sense after seeing the first rejection against the 200-day Simple Moving Average (SMA).
ETH/USD daily chart
This morning China stocks made a whopping recovery after being down for the day. Near the close, the Hang Seng Index flirted with 3% daily gains. Should this turnaround ripple through European and US stock markets, expect to see ETH price action quickly flirting back with the 200-day SMA near $1,638.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH, and XRP decline as President Trump’s team considers “broader and higher tariffs”
Bitcoin continues its decline, trading below $82,000 on Monday after falling 4.29% the previous week. Ethereum and Ripple followed BTC’s footsteps and declined by 9.88% and 12.40%, respectively.
XRP Price Forecast: Weak demand and rising supply could trigger a downtrend
Ripple's XRP is down 7% on Friday following bearish pressure from macroeconomic factors, including United States (US) President Donald Trump's tariff threats and rising US inflation.
Crypto Today: XRP, SOL and ETH prices tumble as South Carolina moves to buy up to 1 million BTC
Bitcoin price tumbled below the $85,000 support on Friday, plunging as low as $84,200 at press time. The losses sparked over $449 million in liquidations across the crypto derivatives markets.
Hackers accelerate ETH decline following $27 million dump, bearish macroeconomic factors
Ethereum (ETH) declined below $2,000 on Friday following a series of hacks traced to accounts of crypto exchange Coinbase users, which caused a loss of $36 million.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.