Last week, I warned you not to chase FOMO just because ETH was pumping. We’re still in a choppy period heading toward the 21st, when the Jackson Hole Symposium takes place. The significance of that date lies in what Jerome Powell might signal, which could guide market sentiment. From there, the market will likely start (pricing in) expectations for the September 17th event, potentially giving us 2–3 weeks of bullish momentum leading up to it.
In the short term, $ETH appears poised to push lower into the $4,300–$4,200 range, potentially forming a bottom over the coming days. Around the 21st or