Ethereum
Ethereum is facing renewed selling pressure near $2,400 as traders assess weakening short-term momentum and prepare for the Federal Reserve’s upcoming policy decision. After declining over the past month, ETH is approaching a critical support zone that could determine whether buyers can stabilize the market or sellers push prices lower.
ETH has recently traded around $2,400, with the $2,350 area emerging as an important near-term support level. The broader technical picture remains cautious, as the price is below several short-term moving averages and momentum indicators point to continued downside pressure. Although a rebound remains possible, buyers need to reclaim key resistance levels to demonstrate that selling pressure is easing.
From a technical perspective, the first support zone lies around $2,350–$2,340. If ETH breaks below this area and confirms the move with a sustained daily close, attention could shift toward $2,300 and then the $2,290–$2,285 region. A deeper decline would weaken the recovery outlook and leave Ethereum vulnerable to further losses.
On the upside, $2,410–$2,420 represents the first resistance area. A sustained move above this zone could open the way toward $2,460, followed by $2,500–$2,520. Reclaiming these levels would improve the short-term outlook, although a stronger bullish reversal would require continued buying pressure rather than a brief price spike.
The Federal Reserve’s upcoming October meeting adds another source of uncertainty. If policymakers raise interest rates unexpectedly or signal that monetary policy will remain restrictive for longer, risk-sensitive assets such as Ethereum could face additional selling pressure. Higher borrowing costs and a stronger US dollar may weigh on investor appetite for cryptocurrencies.
If the Fed keeps rates unchanged, ETH could benefit from improved sentiment, particularly if policymakers adopt a less hawkish tone. However, a rate hold alone would not guarantee a rally. Investors will also assess the Fed’s guidance on inflation and future policy, while any indication that further tightening remains possible could limit gains.
The two scenarios create different risks for Ethereum. A hawkish decision combined with a break below $2,340 would strengthen the bearish case. Conversely, stable support followed by a breakout above $2,420 and $2,460 would suggest that buyers are regaining control. Until either scenario is confirmed, volatility is likely to remain elevated.
Ethereum is therefore approaching a key technical test. Defending the $2,340–$2,350 area could provide a foundation for recovery, but losing support would expose lower levels. For bulls, reclaiming $2,460 is an important step toward improving the outlook; for bears, a confirmed breakdown below support would signal that downside risks remain dominant.
