Ethereum Lifts as Fed Decision Looms

Ethereum got a lift with the rest of the crypto market as investors prepare for the FOMC decision today. Crypto's are behaving increasingly more like risk on assets, and this asset class (which also includes stocks) got a nice lift in what is known as a 'relief rally'. We blasted through $2651, and after some volatility, continued the uptrend into the vacuum zone between $2651 and $2762. The Kovach OBV has shot up notably, suggesting there may be some real legs to this rally. But we must break $2762, which has proven to be a prohibitive barrier in the past, before we can see higher levels. If we reject these higher levels then we are likely to seek support around $2500 (that previous range) once more.