October 28 $ETH Market Update｜Caution Prevails Ahead of the Federal Reserve Decision.
Ethereum rebounded from a low of 2281, currently trading around 2354 on the 4-hour chart. The short-term stop-loss signal is weak, so this can only be defined as a corrective move after the decline; reversal conditions are not yet met.
Tonight is the FOMC interest rate decision, with the market expecting the rate range to remain unchanged at 3.75%–4.00%. The key variable in this market is Powell's press conference: his stance on inflation and guidance on December rate hikes will directly determine short-term risk asset sentiment.
Additionally, the Ethereum Glamsterdam upgrade test has been postponed due to a security vulnerability investigation. From a long-term ecosystem perspective, this is positive, but it suppresses upgrade expectations in the short term; a rational view is advised.
Key levels to watch:
2350 support is the foundation for short-term continued recovery; the first upside target is 2400–2430, and if it holds, then look to 2450.
If it breaks below 2300 again and loses 2280 support, downside risk will restart, with support still expected at 2200–2250.
Uncertainty around the decision is very high; high-leverage positions should prioritize reducing exposure to avoid risk, wait for the news to settle and the market to form a clear structure before considering opening new positions.
Summary: The rebound is just a correction; macro uncertainty remains unresolved, so defense is the priority tonight.
#OctoberFOMCFedRateDecisionComing @OKX中文
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