🚀 $ETH on the move! 🚀
🔍 Following Fed Chair Jerome Powell's speech on the possibility of rate cuts, Ethereum has gained noticeable momentum. Over 284K ETH has left exchanges in the last while! 💰✨
📈 *Market Overview:
- Ethereum is up over 5% following Powell's remarks, which has renewed confidence in this altcoin.
- ETH net outflows hit their lowest level since June, indicating strong buying pressure. 🛒
- Despite outflows in ETFs, risk assets like Ethereum tend to benefit in lower rate environments.
📊 *Technical Analysis:
Ethereum is trading around $2,720, and it has the potential to rally 30% if it manages to break above the key resistance at $2,817. This level has been crucial, as it was support for five months before the market crashed in August.
💥 With increasing buying pressure and a favorable macroeconomic environment, the bulls are ready to take Ethereum to new heights! 🌟