Ethereum Stuck at $2,800 as Sellers Sit Tight Ahead of FOMC Meeting
Ethereum (ETH) has been trading in a tight range around $2,800 for the past thirty days, with three attempts to break above this level but no daily close above it. The current price is $2,700.98, which is 0.7% above the level of 24 hours earlier and 38.3% above 60 days earlier.
The zone around $2,800 has been a ceiling for Ethereum's price growth, with each attempt to break above it ending in failure. This suggests that there are sellers sitting at this level, waiting to capitalize on any upward momentum.
Looking ahead to the next rate decision by the Federal Open Market Committee (FOMC) on October 27 and 28, investors will be watching closely for any signs of a shift in monetary policy. A rate rise is typically seen as a headwind for assets with no running yield, but Ethereum has defied expectations so far.
For German investors, the tax implications of selling Ethereum are also worth considering. If more than a year has passed since acquisition, gains above €1,000 per year are exempt from income tax, but if less, gains are charged at personal income tax rate.