The Market Awaits the Fed to Set the TrendHi everyone, Domic here again.
On the chart, ETH is still holding its short-term uptrend as the 34 EMA (red) remains above the 89 EMA (blue), but the bullish momentum has clearly slowed down. Price is hovering just above both EMAs without forming any widening angle, while the EMAs themselves are being squeezed — a classic signal that the market is losing momentum, moving sideways, and waiting for new catalysts. The declining volume further confirms that buying pressure is no longer strong enough to push ETH decisively toward the 3,150–3,200 zone. This explains why, despite the uptrend remaining intact, ETH is “waiting” rather than accelerating.
On the news side, ETH is directly influenced by upcoming macro events:
The Fed meeting on December 9–10 is the key driver, and crypto markets typically go quiet ahead of such events to await direction.
Meanwhile, the DXY is weak and moving below the 100 level, but volatility is low — not enough to trigger a strong risk-on wave across crypto.
At the same time, speculation around a potential Ethereum spot ETF continues, but without any confirmation from the SEC, expectations exist — yet large capital remains cautious.
Based on these factors, I expect ETH to continue consolidating or potentially pull back to retest the 3,060–3,080 zone before showing a clearer reaction after the Fed meeting.
