Ethereum Digests the FOMC

Ethereum dipped with the other risk-on assets and the rest of the crypto markets. We broke through support in the $1300's at $1341, and hit our support level at $1235. Full disclosure: we are cautiously long here, with limit orders filled in the low $1300's. We expect Ethereum to range a bit here, and perhaps make a tepid attempt to regain the $1300's with a target for now of $1424. However, if $1235 does not hold then there is a vacuum zone to $1100.