JPMorgan’s Ethereum Bet Faces a Make-or-Break Moment
Ethereum is under heavy pressure. ETH has dropped over 6% in the last 24 hours and nearly 9% this week, as macro fears and liquidations weigh on the market.
Amid the selloff, JPMorgan has stepped in with a major institutional signal, launching its first tokenized money market fund on Ethereum, seeded with $100 million. The move strengthens Ethereum’s long-term fundamentals—but the chart now decides whether ETH rebounds or breaks down.
Strong Fundamentals, Weak Short-Term Structure
JPMorgan’s MONY fund reinforces Ethereum’s role as Wall Street’s preferred settlement layer. However, price action remains fragile. ETH is flirting with a bearish EMA crossover, where the 100-day EMA threatens to fall below the 200-day EMA, signaling weakening momentum.
Even strong headlines may fail to lift price unless ETH clears key resistance.
On-Chain Data Hints at a Potential Bounce
On-chain metrics offer cautious optimism. The percentage of ETH holders in profit has dropped to its lowest level since early December, a zone that previously triggered short-term rebounds of 10–14%.
This rebound scenario only holds if $2,910 support remains intact.
Key Levels to Watch
Support: $2,910
A daily close below opens downside toward $2,710 → $2,620
Resistance: $3,240
A close above revives bullish momentum toward $3,440
