Ethereum defends $2,370 despite hawkish Fed and $224M ETF outflow

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Ethereum defends key $2,370 support after Fed decision

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Mykhailo Ihnatenko

17.09.2026

Ethereum defends $2,370 despite hawkish Fed and $224M ETF outflow — Ethereum holds $2,370 despite a hawkish Fed and heavy ETF outflows

Ethereum had several reasons to make a sharp move, yet the price reaction was far more muted than might have been expected. The key question now is how long that resilience can last.

ETH price prediction

24H -1.52%

$2,288.19

48H -3.6%

$2,239.88

7D -3.98%

$2,230.99

1M -12.52%

$2,032.52

3M -33.26%

$1,550.77

6M -48.33%

$1,200.57

12M -35.25%

$1,504.41

Detailed

Current price: $2,323.53 -24.73 1.05%

Real-time Data 12:24

Daily range 2293.44

2361.48

Weekly range 2282.46

2417.77

The Fed raised rates by an expected 25 basis points to 3.75–4.00% on September 16. In the new dot plot, 12 of 18 FOMC participants projected one additional rate hike this year, while four penciled in two more increases.

The Fed raised its 2026 PCE inflation forecast to 3.7% from 3.6% and its core PCE projection to 3.4% from 3.3%, while the GDP growth forecast improved to 2.3% from 2.2%. The median policy-rate projection for the end of 2029 stands at 3.6%. Meanwhile, the end-2026 rate forecast rose to 4.1% from 3.8% in June, pointing to a more restrictive policy path.

The Fed statement highlighted resilient domestic demand, strong productivity growth and continued capital investment, while noting that geopolitical uncertainty remains elevated. Fed Chair Kevin Warsh also said that the economy and labor market had strengthened, while inflation had shown little improvement.

Against this backdrop, U.S. spot Ethereum ETFs recorded $224.1 million in net outflows on September 16. Despite that, ETH remained above its key support level.

$2,370 remains the trigger for the next downside move

ETH defended support at $2,370, showing resilience around this key technical level.

However, the macroeconomic and geopolitical backdrop remains difficult, keeping the bearish scenario from the previous analysis in play.

A break and sustained move below $2,370 would increase the probability of a decline toward $2,200, where the 50-day SMA is also located.

A sustained move above $2,550 would invalidate this scenario.

Price resilience faces a tougher macro test

ETH’s current resilience is notable given the combination of a more hawkish Fed signal and a substantial ETF outflow. As long as $2,370 holds, sellers have yet to turn the deterioration in the fundamental backdrop into a decisive technical breakdown.

Pressure from elevated interest rates and geopolitical uncertainty remains, however, making the durability of this support increasingly important over the coming sessions.

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