Ethereum Price Dips Amidst Fed Rate Cut Expectations

Ethereum’s price experienced a slight dip on Tuesday, falling nearly 1% to $4,127.73, trailing behind the broader crypto market (-0.53%). This decline was attributed to profit-taking following a substantial weekly gain of 6%. Technical indicators suggest strong selling pressure as Ethereum struggled to surpass resistance near $4,232.0, which coincides with its 50-day Simple Moving Average (SMA). The current price sits below the key support level of $4,100.