Ethereum Likely Found Strong Bottom Near $2,800 After Fed Minutes
Ethereum (ETH) briefly slid to about $2,870 on November 19 — its lowest since July — after Federal Reserve meeting minutes injected uncertainty into macro markets. Despite the pullback, intraday lows clustered near $2,800, and traders are increasingly viewing that level as a meaningful support zone rather than a breakdown. Volume and short-term indicators suggest the descent was a reaction to risk-off sentiment rather than a structural shift in ETH fundamentals.
Why it matters: a durable $2,800 floor would limit near-term downside and could prompt renewed buying from opportunistic investors and traders monitoring on-chain flows and staking dynamics. That said, macro developments and liquidity conditions remain pivotal; a decisive breach below $2,800 would reopen downside risk, while a sustained hold could set the stage for a consolidation or recovery phase.