The post Ethereum Price Pumps After Dovish FOMC, $3,000 Target? Next Cryptos To Explode appeared first on Coinpedia Fintech News
The cryptocurrency market displayed a strong rebound on Thursday after the US Federal Reserve continued to pause its monetary tightening.
In the Federal Open Market Committee meeting that took place on the 13th of December, the US central bank kept its benchmark interest rate unchanged at 525 – 550 basis points.
Major cryptocurrencies showed immediate uptick in their values after the Fed’s decision, with the Bitcoin price climbing 5% to reclaim the $43,000 mark. The Ethereum price displayed an even stronger bounce back, surging 6% to currently trade at $2,300 mark.
Before the FOMC’s dovish decision on Wednesday, ETH was trading near the $2,175 mark and was facing the possibility of falling below its most crucial support zone, which ranges from $1,934 to $2,160. Over 5.58 million addresses had previously purchased nearly 40 million $ETH tokens in t
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