Ethereum ETH Price Targets after the FOMC meeting this week

30 Nis 2023

The upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments.
The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak.
Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier.
Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market.

ETH/USDT short
Entry Range: 1800 - 1950
Take Profit 1: 1710
Take Profit 2: 1620
Take Profit 3: 1480
Stop Loss: 2150