Ethereum Retreats Below $2,361 Before the Fed: Daily Trading Plan
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Executive Summary
- ✦Coinbase ETH-USD spot last traded at $2,331.66 at 17:01:42 UTC on 28 October, about 0.65% below Tuesday’s close.
- ✦Wednesday’s move above $2,360.92 has retreated; the UTC daily candle is still unfinished.
- ✦Watch $2,360.92 above and $2,293.58 below, with completed closes and later retests rather than headline spikes.
- ✦The Fed decision and press conference are scheduled for 00:00 and 00:30 on 29 October in Bangladesh.
Ether has returned inside Tuesday’s range after an earlier push above its high. With the Federal Reserve decision still ahead, that retreat makes confirmation more useful than chasing another intraday spike. The daily recovery is unfinished, and the same is true of the bearish case.
Coinbase Exchange ETH-USD spot last traded at $2,331.66 at 17:01:42 UTC on 28 October 2026, or 23:01:42 in Bangladesh / 17:01:42 GMT in London. That is approximately 0.65% below Tuesday’s $2,347.01 close. This is a timestamped last trade from a live exchange feed, not a continuously updating or guaranteed executable quote. Yahoo Finance independently showed $2,331.61 at 17:01:42 UTC, supporting the approximate price; different venues and data methods need not match exactly. Primary price source: Coinbase ticker.
An intraday breakout has returned to the range
The table uses US dollars per ETH on Coinbase’s spot market, with daily candles running from 00:00 to 00:00 UTC. These boundaries differ from Bangladesh midnight and from some broker charts.
| Reference | USD per ETH | Status |
|---|---|---|
| Wednesday last trade | $2,331.66 | 17:01:42 UTC snapshot |
| Tuesday 27 October high | $2,360.92 | Completed daily candle |
| Tuesday close | $2,347.01 | Latest completed UTC close |
| Tuesday low | $2,293.58 | Completed daily candle |
| Monday 26 October low | $2,290.00 | Nearby lower reference |
| Sunday 25 October high | $2,368.50 | Further resistance reference |
Source: Coinbase daily candles. The sampled Wednesday candle had reached $2,384.35, above both Tuesday’s and Sunday’s highs, but the later ticker was back below them. Its sampled low was $2,318.92. Those Wednesday extremes remain provisional, and the candle endpoint and ticker may refresh at different times.
Our 26 October plan used $2,368.50 as a bullish daily-close condition and $2,307.71 as a bearish one. Monday closed at $2,320.34 and Tuesday at $2,347.01: neither closing trigger occurred. Wednesday’s earlier move above the upper boundary does not change that completed-candle assessment. This is a review of conditions, not a claim of executed trades or returns.
Tonight’s verified catalyst
The Fed’s official calendar schedules the policy announcement for 18:00 UTC, followed by the press conference at 18:30 UTC on 28 October. In the UK those are 18:00 and 18:30 GMT. Bangladesh crosses into Thursday 29 October: 00:00 and 00:30. Both events were still ahead at the quoted price snapshot; this article does not assume their outcomes.
Our interpretation is that the language on future policy may matter as much as the immediate decision. Changes in rate expectations can affect demand for speculative assets, but a calendar event does not determine ETH’s direction. The statement and press conference also create separate opportunities for an initial market response to reverse.
For Ethereum-specific context, the Foundation’s existing Hoodi postponement notice still states that no replacement activation date has been set. It concerns a test network, not a newly scheduled mainnet upgrade. This is background carried forward from our previous report, not breaking news or a verified explanation for today’s price move.
The Money Man View: next one to three UTC sessions
Base case — still a range. While daily closes remain between $2,293.58 and $2,360.92, the working framework is consolidation. Returning inside that range weakens the intraday breakout attempt, but does not yet confirm a daily breakdown.
Bullish scenario. A daily close above $2,360.92, followed by a later retest that holds, would improve the recovery case. Sunday’s $2,368.50 is only $7.58 higher, so it is a nearby obstacle rather than evidence of a large reward. Wednesday’s provisional $2,384.35 high is another observation to reassess after the candle completes. A close back below $2,360.92 after breaking out would weaken this scenario. Neither reference is a promised target.
Bearish scenario. A daily close below $2,293.58, followed by a failed reclaim, would strengthen the downside case. Monday’s $2,290.00 lies just $3.58 lower; Saturday’s $2,275.94 is the next further historical low in the same exchange series. A sustained reclaim of $2,293.58 would weaken the bearish thesis. The narrow first gap is a reason to assess costs and actual risk-to-reward, not an automatic short-selling opportunity.
Wait condition. If price repeatedly crosses a boundary around the Fed headlines, the daily setup remains unresolved. Waiting for the completed UTC candle avoids confusing a temporary breach with a confirmed close, although it cannot remove trading risk.
Spot ETH, perpetual futures and exchange-traded funds have different trading hours, costs and leverage risks. This plan’s levels apply only to the named spot market. Protective orders can slip during fast moves; see our bracket-order and OCO guide. Longer-term investors should separate a one-day price test from their assessment of network development and portfolio concentration.
Next checkpoint: the Fed events, then the completed 28 October candle at 00:00 UTC on 29 October / 06:00 Bangladesh time. These article prices do not update automatically.
The Money Man uses AI-assisted research and writing. General market analysis and education only, not personalised investment advice. Conditional scenarios can fail, crypto can move sharply and capital is at risk. The cover is an AI-generated conceptual illustration, not a price chart, event photograph or forecast.