After growing by over 15% during the previous week, can ETH make a comeback to cross $1,800?
Ethereum has already achieved resistance support above the $1,500 support level. ETH seems to grow at a steady pace, the Fed meeting is supposed to happen on Nov 2nd during this week. If the Fed raises the interest rates by 50 basis points i.e 0.5% instead 75 bps, then we can see a short-term momentum gain by the bulls and can expect Ethereum to touch the $1,800 price tag.
In case, Ethereum fails to maintain above the $1,500 resistance after the Fed's decision, it could continue to fall down. Initial support on the lower side could be $1,400 - $1,450 but could go more low depending upon the Fed's upcoming decision. In any case, We can expect ETH to grow substantially over the next few weeks.
At the time of writing this article, ETH is trading at $1,575 with a market cap of $192 Billion, while the global crypto market cap stands at $1.02 Trillion.
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