Ethereum nudged above $2,350 on Wednesday following the Fed’s rate‑hold, while the Coinbase Premium Index remained in negative territory.

Ethereum (ETH) edged higher on Wednesday, climbing about 1% to trade just above $2,350 after the Federal Reserve’s Federal Open Market Committee voted 10‑2 to keep its policy rate unchanged at 3.75‑4.00%. The decision, which came after a 25‑basis‑point hike in September, was largely priced in, with the CME FedWatch tool showing over 90% probability of a hold.

Market reaction and US selling pressure

• The Coinbase Premium Index, which tracks the price gap between Coinbase Pro and Binance, fell to –0.181 on Monday – its lowest level since February – before inching to –0.142 on Tuesday, staying in negative territory.
• US spot ETH ETFs posted a second straight day of outflows, pulling $60.2 million on Tuesday, hinting at the worst monthly net outflow since the products launched in July 2024.

Technical outlook

• ETH bounced off its 200‑day EMA at $2,316 and is now testing resistance around $2,355, supported by the 100‑day EMA at $2,362.
• A break above $2,355 could open a path toward $2,411 and the 20‑day/50‑day EMAs near $2,424‑$2,450, while the next major ceiling sits at $2,548.
• On the downside, the 200‑day EMA remains firm support with additional levels at $2,256, $2,204 and $2,107.
• Liquidity stress showed $43.1 million of liquidations in the past 24 hours, $36 million of which were short positions.

What traders are watching

• Thursday’s Personal Consumption Expenditures (PCE) report, the Fed’s preferred inflation gauge, could reshape sentiment.
• Key technical levels to monitor: $2,355 resistance, $2,411 hurdle, and support at $2,256.
• Continued outflows from US‑based ETH ETFs may signal further pressure on the coin’s price.

Related news

• Gold slips after Fed holds rates, pce inflation data in focus
• Bitcoin faces fresh pressure after Fed’s hawkish rate hold
• Usd/jpy returns below 158 after fed's decision
• Pound back above 1.33 after Fed holds rates

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This article is compiled from international market news for information only. It is not investment advice.