Ether and most of the major cryptocurrencies dropped this week again alongside equities as many analysts agreed that the Fed would accelerate the speed of rate hikes in the light of recent economic data.

Inflation numbers suggest that the Fed needs to be more aggressive in combat to fight inflation, and the market believes that the Fed will hike rates by another 75 basis points this Wednesday. Only around 20% expect the rise to be 1%, like Sweden’s riksbank did yesterday.

Ether has weakened from $1789 to $1281 since September 11, 2022, and the current price stands at $1328. But where is the price of Ether (ETH) going next, in the fourth quarter of 2022?

Today, Crypto Lists will discuss Ether price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk and how much margin you got if trading with leverage.

Ether’s big software update on Thursday could draw SEC attention

The last several months have been extremely taff for the cryptocurrency market, and cryptocurrencies have been suffering from heavy selling due to hawkish signals from central banks and uncertainty because of the Ukraine crisis.

The upside potential for Ether and the cryptocurrency market remain limited, especially if the U.S. Federal Reserve decides to lift the interest rates by 75 bps or more at its meeting this week. Goldman Sachs analysts recently opined that the Fed would accelerate the speed of rate hikes in the light of recent economic data, while analysts at Nomura expect that new inflation data might prompt the central bank to implement a jumbo 100-basis-point hike.

Investors are worried that an aggressive interest rate hike policy could trigger an even bigger sell-off, and in light of this, Ether (ETH) might have a hard time holding above the current price levels. It is important to mention that the cryptocurrency market is correlated with the stock market, and if a downtrend is witnessed in the stock market, the same is replicated in the crypto-sphere as well.

Salah-Eddine Bouhmidi, head of markets at I.G. Europe, believes that the price of Bitcoin is on track to plunge to $13,500 by the end of the year, and if this happens, Ether will certainly be below $1000.

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On the other side, Ether’s big software update last week can draw SEC attention, especially after Securities and Exchange Commission Chairman Gary Gensler said last week that cryptocurrencies that allow holders to “stake” their coins might pass a key test used by courts to determine whether an asset is a security. Known as the Howey test, it examines whether investors expect to earn a return from the work of third parties.

Before moving to the proof-of-stake model last week, Ether relied on an alternative model, known as proof-of-work, the model Bitcoin uses. Staking is one of two ways in which cryptocurrency networks verify transactions. Used by some of the largest cryptocurrencies — including Solana, Cardano and, as of the last week, Ether — it allows investors to lock up their tokens for a specified amount of time to receive a return.

Competition for jurisdiction over crypto is heating up among federal agencies and the congressional committees they answer; still, it is important to mention that the crypto market has shown a strong preference not to be regulated by the SEC.

SEC has a rigorous disclosure regime that crypto firms argue is expensive and impractical, and crypto firms have spent millions of dollars lobbying congress for their interests.

Technical analysis for Ether

ETH has weakened from $1789 to $1281 since September 11, 2022, and the current price stands at $1337. Ether might have a hard time holding above the $1200 level in the upcoming days, and a break below this level would indicate that ETH could probably test the price level at $1000.

On the chart below, I marked the trendline, and as long the price of ETH is below this trendline, we can’t talk about a trend reversal, and the price of ETH remains in the SELL-ZONE.

Ether price trendine

Main support & resistance levels for Ether

ether support and resistance levels

On this chart (the period from March 2022), I marked the main support and resistance levels that can help traders to understand where the price could move. Ethereum remains in the “bearish phase, “but if the price advances again above $2000, it could be a sign of the trend reversal, and the next target could be located around $2300. The current support level is $1200, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $1000. If the price drops below $1000, which represents very strong support, the next target could be located around $800.

What speaks for the rise in the Ether price?

ETH has surged almost 100% since the beginning of July, rising from $1032 to a high of $2029 reached on August 14. The sudden upswing took Ethereum to test the $2000 level multiple times, but it did not show enough strength to stabilize above it. The current price stands above $1200 support, but a break below this level would indicate that Ether could probably test the price level at $1000. Many surveys show that institutional investors still remain bearish on Ether, especially because of the fact that the aggressive interest rate hike policy from the U.S. central bank could trigger an even bigger sell-off. Ethereum remains in the “bearish phase, “but if the price advances again above $2000, it could be a sign of the trend reversal, and the next target could be located around $2300.

What indicates further downfall for ETH?

Ether and most of the major cryptocurrencies remain under pressure as many analysts agreed that the Fed would accelerate the speed of rate hikes in light of recent economic data. The upside potential for Ethereum and the cryptocurrency market remain limited, especially if the U.S. Federal Reserve decides to lift the interest rates by 75 bps or more at its meeting this week. Reuters report about Putin saying that the west is engaging in nuclear blackmail, and Russia can respond. Any direction closer to a nuclear war is obviously risky for both humanity and the price of cryptocurrencies. Most European stock exchanges opened down today following the increased risk of nuclear weapon usage.

The current support level for Ethereum stands at $1200, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $1000. If the price drops below $1000, which represents very strong support, the next target could be located around $800. Those looking to go long or short in Ether, can check out Kucoin and give their platform a try.


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Ether price expectations from analysts and experts

After Ether’s switch to a proof-of-stake, the bears took control of the market, but this is not the main reason for the price drop. Investors are worried that an aggressive interest rate hike policy from the U.S. central bank could trigger an even bigger sell-off, and in light of this, ETH might have a hard time holding above the current price levels. Goldman Sachs analysts recently opined that the Fed would accelerate the speed of rate hikes in the light of recent economic data, while analysts at Nomura expect that new inflation data might prompt the central bank to implement a jumbo 100-basis-point hike at its meeting this week. Salah-Eddine Bouhmidi, head of markets at I.G. Europe, believes that the price of Bitcoin is on track to plunge to $13,500 by the end of the year, and if this happens, ETH will certainly be below $1000.

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