Ether rebounded from the April 30th low of 45 days.ETHThe ) price remains stuck in a downward channel. However, the 9% increase over the last four days was enough for the altcoins to break the $2,870 resistance.

Federal Reserve monetary policy continues to be a major influence on crypto prices and this week’s volatility is most likely connected to comments from the FOMC. The United States Federal Reserve published its May 4th statement. raisedThe benchmark overnight rate for interest was raised by half a point. It is the highest increase in 22-years. Although the unanimous and widely anticipated decision was made, it is not surprising that the monetary authorities announced it will reduce its $9 trillion assets base beginning in June.