Ethereum stalls ahead of Fed decision as ETFs draw inflows

Ethereum fell 1.53% to $1,890 on Wednesday after reaching a session high of $1,926. The token opened the day at $1,919.80, peaked at $1,926.10 and closed at $1,890.60 as markets paused ahead of the Federal Reserve rate decision.

Spot Ethereum exchange-traded funds attracted $14.53 million on the day, marking three consecutive weeks of net inflows. Seven-day flows totaled about $71.17 million through July 28, according to market flow data.

Broader crypto markets were subdued. Bitcoin traded near $64,000 and the Fear & Greed Index stood at 29. The Federal Reserve is expected to hold its policy rate at 3.50–3.75%; market participants are watching Fed commentary for direction on risk assets.

Technical indicators show the 50-day exponential moving average remains below the 200-day, a condition often referred to as a death cross. The 200-day EMA is near $2,174. The Average Directional Index reads 23.2, with the positive directional indicator above the negative, and the Relative Strength Index is 54.7. The Squeeze Momentum Indicator registered 0.71 after a period of compression.

Price sits just below the Fibonacci retracement band calculated from a $1,846 low to a $1,980 high, with the band between $1,897 and $1,913. A daily close above $1,913 would put a 23.6% Fibonacci extension at $1,944 into view, with $1,980 as the next defined resistance. On the downside, support is visible between $1,874 and $1,846.

Prediction markets show a notable share of traders placing bets on a decline to $1,500 before any sustained move toward $3,000. Those odds narrowed after ETH recovered from mid-June lows but remain tilted toward lower targets.

The Federal Reserve statement and subsequent commentary are scheduled to be the next major market catalyst. Market participants are monitoring ETF flows and the technical levels noted above for immediate signs of direction.