ETH Hits New Highs as Powell Crisis Looms Large for Cryptos
2025-07-16 21:02:50
Main Idea
Ethereum (ETH) has surged to new highs amid speculation about Federal Reserve Chairman Jerome Powell's potential resignation, which could impact cryptocurrency markets.
Key Points
1. Ethereum (ETH) rose nearly 12% to test the $3,400 threshold, with potential to reach $4,000 in the coming weeks.
2. Speculation about Jerome Powell's resignation caused temporary turbulence in U.S. markets, though President Trump dismissed claims of his removal.
3. Market experts warn that Powell's removal could undermine the Fed's independence and negatively impact cryptocurrencies, as seen in past market reactions.
4. ETH's price is targeting key resistance levels at $3,522, with support at $3,340 potentially leading to further gains toward $3,743 and $4,072.
5. ETH's rally against BTC (0.03BTC) signals a strong upward reversal, with a daily close above 0.027BTC indicating further bullish momentum.
Description
ETH climbed 12%, testing the $3,400 barrier amid talks of Powell's possible exit. Speculations on Powell’s removal caused cryptocurrency gains and U.S. Continue Reading: ETH Hits New Highs as Powell Crisis Looms Large for Cryptos The post ETH Hits New Highs as Powell Crisis Looms Large for Cryptos appeared first on COINTURK NEWS .
Latest News
- Coinbase Boosts Altcoin Market with Exciting New Listing2025-07-17 17:23:58
- Crypto Markets Surge as Bitcoin and PEPE Coin Target New Heights2025-07-17 16:43:06
- Trump Faces Powell with Mounting Pressure2025-07-17 15:55:58
- Ripple Reaches New Milestones: XRP’s Growth Continues2025-07-17 14:53:45
- Bitcoin and Ethereum Surge Ignites Crypto Market Excitement2025-07-17 14:23:11