Ethereum price trend targets $2,100 with a range breakout as the market recovers before the FOMC meeting results.
With less than 12 hours left for the Federal rate cut decisions to go live, the crypto market is witnessing a minor recovery. Bitcoin is above $83,000, and Ethereum is gradually inching closer to the $2,000 mark.
While the broader market expects the Fed to keep rates unchanged, growing anticipation is driving the short-term recovery. Will this short-term recovery lead to a breakout in Ethereum, pushing it past the $2,100 mark?
Ethereum Price Eyes Range Breakout Rally
In the 4-hour price chart, the Ethereum price trend reveals a breakout of a short-term resistance line. This hints at the conclusion of a lower-high trend formation.
Moreover, the breakout rally is now targeting a range breakout. The consolidation range in Ethereum extends from $1,850 to $1,950.
Currently, Ethereum’s recovery run has created three consecutive bullish candles, which increases the chances of a breakout rally.
With the bullish sentiments gradually improving, the MACD and signal lines approach the positive territory. Furthermore, as the bullish histograms resurface, the momentum indicator triggers a buy signal for Ethereum.
Justin Sun Adds $100M ETH to Staking
Amid the short-term recovery, a key figure in the industry is growing bullish on Ethereum.
According to Arkham Intelligence, Justin Sun, the founder of the Tron ecosystem, has staked $100 million in Ethereum. This move seeks to generate $3 million in ETH per year.
JUSTIN SUN STAKED $100M ETH TODAY
THIS WILL YIELD $3M OF ETH PER YEAR PASSIVE INCOME pic.twitter.com/xfvTi12YLc
— Arkham (@arkham) March 18, 2025
Ethereum ETFs Hit 10 Consecutive Days of Outflow
Despite the short-term recovery and the confidence of key figures, inflows into Ethereum ETFs continue to decline. On March 18, Ethereum ETFs experienced an outflow of $52.82 million, marking their 10th consecutive day of outflows.
Leading these outflows, BlackRock recorded $40.17 million in outflows, followed by Grayscale with $9.33 million and Fidelity with $3.32 million.
The remaining six Ethereum ETFs maintained a net-zero flow. The total volume traded on March 18 was recorded at $235.78 million, with total net assets standing at $6.56 billion.
Ethereum Price Targets
Based on the price action analysis, the breakout of Ethereum, amid the growing anticipation of Fed rate cuts, will likely fuel the next rally. Ethereum’s price could retest the overhead resistance near $2,076, followed by the 200 EMA at $2,260.
On the flip side, a potential retest of the broken resistance trendline is possible near the $1,900 mark.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
