Headline: Ethereum Slides to Lowest Morning Open in Over a Week as Oil Spike and Iran Tensions Spur Risk-Off Ahead of Fed Ethereum opened the April 28 session at $2,303.33 — its weakest morning start in more than a week — sliding 2.8% from Monday’s $2,369.84 opening, according to Yahoo Finance. The downturn came as renewed friction between the US and Iran sent Brent crude back above $104 a barrel and pushed investors into risk-off mode ahead of the Federal Reserve’s policy meeting. Why prices fell Crypto markets reacted to two overlapping macro forces. Iran pulled back from the Islamabad summit and insisted diplomacy — not the ongoing naval blockade — was the right path forward, while the US maintained the blockade as leverage to press Iran to abandon several uranium enrichment sites, a demand Iran has resisted. Those geopolitical strains helped drive oil higher; Brent reclaiming the $104 level has been flagged by analysts as a threshold that can keep inflation concerns elevated and push out expectations for Fed rate cuts. That chain matters for crypto: higher oil can translate into stickier inflation, which in turn influences whether the Fed keeps policy tight — a major driver of Bitcoin and Ethereum prices throughout 2026. Bitcoin also softened on April 28, down about 1.6% on the open despite three straight days above $78,000, underscoring the broad market impact of the Iran-oil headlines. All eyes on the Fed Traders are focused on the Federal Open Market Committee’s April 28–29 meeting. While rates are largely anticipated to remain unchanged for a third straight meeting, the wording of the April 29 statement will be scrutinized for clues on whether the Fed expects to hold its restrictive stance into the summer or could leave the door open for cuts later in 2026. Crypto prices have repeatedly swung on similar headlines this month, with each diplomatic or oil-related update prompting quick reprices as markets try to gauge the odds of a sustained ceasefire or renewed escalation. Technical picture for ETH Ethereum dipped to about $2,278, edging toward a technical support band between $2,250 and $2,300 that analysts say must hold to avoid a test of $2,150. The 50-day EMA sits around $2,322 — just above current prices — and would need to be reclaimed to restore short-term bullish momentum. The RSI is roughly 35, indicating near-oversold conditions but not a clear reversal signal; overall, ETH looks range-bound and highly sensitive to the next Iran headline or Fed commentary. Context and longer-term view ETH’s all-time high of $4,953.73 dates to August 24, 2025. As of April 28, Ethereum has recovered from a February low near $1,837 but remains roughly 54% below its peak. With geopolitical risk and Fed messaging converging this week, traders will be watching both headlines and technical levels for cues on the next directional move. Read more AI-generated news on: undefined/news