Ethereum Plunges Below $4,200 as Powell Speech Looms - Here’s What’s Next for ETH

Ethereum takes a nosedive as traders brace for Powell's upcoming remarks—dropping below the critical $4,200 support level in a classic 'sell the rumor' move.

Market Jitters Hit Crypto Hard

Investors aren't waiting around to hear what the Fed chair has to say—ETH's sharp decline signals broader anxiety over potential hawkish tones. The drop erases recent gains and puts bullish momentum on ice, at least temporarily.

Technical Breakdown or Buying Opportunity?

While the plunge rattles weak hands, seasoned crypto traders see these dips as entry points—because in traditional finance, they'd rather wait for a committee meeting to decide what to feel about numbers that are already public.

US Tariffs Continue to Haunt Major US Companies like Home Depot

US tariffs have been a huge talking point amongst investors in the US stock market since April. The sweeping tariffs on numerous European countries with close ties to US companies sent those respective stocks down in the last few months. From Mag-7 members to tech giants, many companies were hit hard. Previously, Home Depot said it WOULD not speculate on its price plans, but that tariffs might lead it to no longer offer some items. Now though, the company is officially sending some prices upwards, following in the footsteps of other major corporations.

Home Depot said that a little less than half of its inventory comes from suppliers outside the United States. The company has previously said it was looking to diversify its supply base so that no foreign country supplied more than 10% of its goods. Furthermore, the company is hoping to see stronger gains in sales in the future, sparked by a bit more certainty in the US economy. “When we talk to our customers… both consumers and pros, the number one reason for deferring the large project is general economic uncertainty,” CEO Ted Deckersaid on the earnings call. “That is larger than the prices of projects, of labor availability. By a wide margin, economic uncertainty is number one.”

At press time, Home Depot HD stock is trading at $405. The company remains optimistic on its growth potential, reaffirming its full-year guidance amid a challenging housing market.