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Ethereum Price Forecast: ETH plunges below $4,200 as investors brace for Powell's speech
Ethereum extended its decline by 5% on Tuesday, breaching the $4,200 level following a rise in short-term volatility, validator queue exits and institutional outflows. The cautious sentiment shows traders continue to de-risk ahead of Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole Economic Symposium on Friday. Ethereum dropped below $4,200 on Tuesday, stretching its decline to over 10% since the US Producer Price Index (PPI) inflation data for July rocked the market last Thursday. During the period, Ethereum has seen long liquidations of over $1.1 billion, per CryptoQuant's data, a ... (full story)
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