coinjournal.net
Key takeaways
- $ETH is down 2% in the last 24 hours and has dropped below $3,800.
- The coin could rally towards $4k soon amid growing institutional demand.
$ETH dips below $3,800 ahead of FOMC
The cryptocurrency market is bearish ahead of today’s FOMC meeting. Bitcoin has dropped below $119k while Ether is down 2% over the last 24 hours, but continues to defend the daily support level at $3,730.
The U.S. Federal Reserve is expected to leave the interest rate unchanged later today, and this could negatively affect BTC and other major cryptocurrencies. Despite that, $ETH’s price continues to hold above a key level thanks to growing institutional demand.
In an email to Coinjournal, XBTO’s Chief Investment Officer, Javier Rodriguez-Alarcón, pointed out that institutional demand for Ether remains strong. He stated that,
“Ethereum’s institutional momentum accelerated last week as record ETF inflows and major fund launches signaled a decisive shift in crypto capital allocation. While Bitcoin held steady, the clear winner was $ETH, which continues to attract both passive and active institutional money seeking yield and utility over pure store-of-value exposure.
This week brings critical macro tests: Wednesday’s FOMC rate decision, Tuesday’s JOLTS job openings data, and July ADP employment figures all have the potential to amplify or reverse current trends as Bitcoin approaches $120,000. Ethereum extended its rally last week, climbing another +3.6% and bringing its month-to-date gain to +55.9%. After a slow start to the year, $ETH is now up +16.3% in 2025, marking a full turnaround and a clear shift in investor focus.”
$ETH eyes $4k if $3,730 support holds
The $ETH/USD 4-hour chart is bearish thanks to the market’s poor performance over the last few days. The technical indicators remain bearish, suggesting that the bears are still in control.
$ETH/USD 4-hour chart">
At press time, $ETH is trading at $3,794 per coin. If the daily support at $3,730 holds, $ETH could resume its upward rally, targeting its key psychological level of $4,000. The RSI of 55 is approaching the neutral zone, suggesting that the bullish momentum is fading. The MACD line is also set to crossover into the bearish zone, indicating a selling bias.
On the other hand, if Ether faces a correction and closes below the daily support at $3,730, the bearish momentum could extend to the next support at $3,500 over the coming hours.