The U.S. Senate has just overturned the CLARITY Act bill by a single vote (49-50) and sent Ethereum straight to the brink of the $2,400 USD ๐. But while the political jolt triggers panic selling and capital outflows in spot ETFs, the real whales are making a quiet move ahead of the Fed decision ๐.
On one hand, legislative uncertainty pushed ETH to touch lows of $2,382 in the past few hours, just as markets price in a likely 25-basis-point interest rate cut by the Federal Reserve ๐๏ธ.
On the other hand, the on-chain data shows a story of massive accumulation ๐ฅ:
Strong hands buying: Large investorsโ wallets (10k to 100k ETH) bought about 200,000 ETH last week while retail was selling.
Exchange outflows: More than 159,000 ETH left exchanges for private wallets in just five days, reducing the available supply.
On the daily chart, the battle is defined in two crucial zones ๐:
Critical support ($2,350 โ $2,390 USD): Losing the $2,400 level opens the door to an 8% to 10% pullback toward $2,200 USD โ ๏ธ.
Resistance to break ($2,465 โ $2,526 USD): Pushing strongly through the $2,526 barrier would neutralize selling pressure and clear the way toward $2,800 USD ๐.
Structure: The RSI is neutral (50-52) and the MACD is losing momentum, but the price is holding above the 50- and 200-day moving averages.
Weโre at a crossroads where political fear is slowing the market, but heavy accumulation is laying the groundwork for the next big move.
How do you see it for the next few hours: do you think the Senate stumble will drag the price lower, or are you on the whalesโ side accumulating before the Fed announcement?$ETH
