Ethereum is trading near $1,770, down approximately 1% on the day, as the cryptocurrency market awaits the June 17 FOMC decision under new Fed Chair Kevin Warsh. The rate hold at 3.50% to 3.75% is 99% priced in, shifting focus to the dot plot and Warsh's press conference. Prediction markets now place the odds of at least one rate hike in the future at 50.5%, up from near-zero in January, a hawkish repricing that has contributed to crypto market hesitation.
Wallets Holding 10,000 to 100,000 ETH Added 510,000 ETH Since June 5
Wallets holding between 10,000 and 100,000 ETH have added roughly 510,000 ETH since June 5, when the price briefly approached $1,500. Retail wallets showed minimal activity during the same period. Spot Ethereum ETFs logged $22.5 million in net inflows recently, following a stretch of outflows. Crypto analyst Ted stated, "If the $1,700 to $1,750 zone holds, ETH has room to push toward $1,900."
ETH Trades Between $1,734 Support and $1,796 Resistance
ETH is positioned between $1,734 support and resistance at its $1,796 moving average. Above that level, sellers are concentrated at $1,855 to $1,923, with additional resistance at $1,988 to $2,133. The Fear and Greed Index sits at 22, classified as extreme fear, having recovered from a cycle-low reading of 9 last week. Bull-case models project a range of approximately $2,100 to $2,600 over the next six to twelve months.
Vitalik Buterin Warns Layer 2s Have Become Branded Shards
Ethereum co-founder Vitalik Buterin stated in early discussions that "Most Layer 2s have become 'branded shards' rather than distinct execution environments." Buterin's comments addressed the development trajectory of Ethereum's Layer 2 scaling solutions, noting a trend toward interchangeable implementations rather than genuinely differentiated networks.
FAQ
What is driving Ethereum's current price movement near $1,770?
Ethereum is trading near $1,770 as the market awaits the June 17 FOMC decision under new Fed Chair Kevin Warsh. The rate hold at 3.50% to 3.75% is 99% priced in, with attention focused on the dot plot and Warsh's press conference. Prediction markets show 50.5% odds of a future rate hike, up from near-zero in January.
How much ETH have large wallets accumulated since June 5?
Wallets holding between 10,000 and 100,000 ETH have added roughly 510,000 ETH since June 5, when the price briefly approached $1,500. Spot Ethereum ETFs logged $22.5 million in net inflows recently, though this followed a period of outflows.
What are the key technical levels for ETH?
ETH is positioned between $1,734 support and resistance at its $1,796 moving average. Above that, sellers are concentrated at $1,855 to $1,923, with additional resistance at $1,988 to $2,133. The Fear and Greed Index sits at 22, having recovered from a cycle-low of 9 last week.
