Ethereum (ETH) remains in the spotlight of traders, demonstrating resilience in volatile market conditions. At the time of analysis, the ETH/USDT pair is consolidating in a range, approaching key support and resistance levels.
Factors that may influence the movement:
1. Macroeconomics: Fed's interest rate decision and general sentiment in the crypto market.
2. Technical analysis: Support at $1,600 and resistance at $1,750. A breakout of these levels may set the direction.
3. Ethereum news: Network updates, DeFi and NFT activity.
Traders should closely monitor trading volumes and reactions to critical levels. ETH may enter a phase of increased volatility in the coming days.