- Ethereum is eyeing a breakout above $2,100 as bullish momentum builds ahead of the FOMC rate decision.
- Despite ETF outflows, strong technical indicators and Justin Sun’s $100M staking boost investor confidence.
Ethereum (ETH) is gearing up for a potential breakout as the crypto market recovers ahead of the Federal Open Market Committee (FOMC) meeting results. With Bitcoin surpassing $83,000 and Ethereum inching closer to the $2,000 mark, traders are eyeing a key range breakout that could push ETH toward $2,100.
Ethereum Price Targets a Range Breakout
On the 4-hour chart, Ethereum’s price action signals a breakout from a short-term resistance line, marking the end of a lower-high trend formation. The current price movement is targeting a breakout beyond its consolidation range of $1,850–$1,950.
Ethereum has formed three consecutive bullish candles, reinforcing the possibility of a strong rally. Technical indicators are also aligning with this bullish outlook:
- MACD and Signal Lines: Both are approaching the positive territory, indicating strengthening momentum.
- Bullish Histograms: Their resurgence confirms growing buying pressure.
- Momentum Indicator: A buy signal has been triggered, supporting Ethereum’s bullish trajectory.
Justin Sun Stakes $100M in Ethereum
As Ethereum gains bullish momentum, prominent figures in the crypto industry are showing increased confidence. Justin Sun, founder of the Tron ecosystem, has staked $100 million in Ethereum, a move expected to generate $3 million in ETH rewards annually.
Ethereum ETFs See 10 Consecutive Days of Outflows
Despite the price recovery, Ethereum ETFs continue to witness heavy outflows. On March 18, the total outflow from Ethereum ETFs reached $52.82 million, marking the 10th consecutive day of withdrawals.
- BlackRock led the outflows with $40.17 million.
- Grayscale saw $9.33 million in outflows.
- Fidelity recorded a $3.32 million outflow.
While the ETF market struggles, Ethereum’s price resilience suggests that investor sentiment in spot trading remains intact.
Ethereum Price Outlook: Can ETH Break Above $2,100?
With growing anticipation of the FOMC’s rate decision, Ethereum’s breakout momentum could push its price toward key resistance levels:
- First Target: $2,076 (overhead resistance)
- Second Target: $2,260 (200-day EMA)
However, if ETH faces rejection, it may retest the broken resistance trendline near $1,900 before making another breakout attempt.
As the FOMC meeting unfolds, all eyes remain on Ethereum’s price action. Will ETH break past $2,100 and confirm a new bullish trend?
