Ether could face volatility as markets eye Powell at Jackson Hole

Key takeaways

  • ETH is trading above $4,300, up by less than 1% in the last 24 hours.
  • Investors will focus on Powell’s speech at Jackson Hole later today. 

Ether remains resilient despite bearish market conditions

The cryptocurrency market has been volatile since the start of the week, and more volatility is expected over the next few hours. Traders are bracing for potential volatility ahead of Federal Reserve (Fed) Chair Jerome Powell’s speech at the Jackson Hole Symposium.

Bitcoin continues to trade around $113k while Ether is trading above $4,300, up by less than 1% in the last 24 hours. Ether’s resilience can be attributed to JPMorgan’s recent report that revealed that spot ether exchange-traded funds (ETFs) pulled in $5.4 billion in July, matching bitcoin ETFs. On the other hand, Bitcoin funds have since seen modest outflows, while ether vehicles continue to draw capital.

According to the bank, the SEC approval of in-kind redemptions for ether ETFs is expected to lower costs, boost liquidity, and further strengthen Ether’s positioning against Bitcoin. 

Ether could dip below $4,200 if Powell’s speech comes hawkish

The FOMC minutes released on Thursday revealed hawkish bias by the Federal Reserve, with analysts not expecting the apex bank to cut rates by next month. The market’s performance in the near term could be dictated by Powell’s speech later today. 

The ETH/USD 4-hour chart is bearish and efficient as Ether has lost 7% of its value over the last seven days. The RSI of 51 shows that Ether is neutral, while the MACD lines suggest a bearish undertone. 

ETH/USD 4H Chart

At press time, ETH is trading at $4,314 per coin. If the daily candle closes above the $4,232 support, ETH could extend the recovery toward its next daily resistance at $4,488. An extended bullish run would allow it to aim for its yearly high at $4,788.

However, with the broader market still bleeding, Ether could face a correction if its daily support at $4,232 fails. This could extend ETH’s decline toward its next support level at $3,946.

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Hedera price prediction: HBAR eyes $0.25 amid SWIFT blockchain trials

Key takeaways

  • The crypto market has turned bearish again after a temporary relief on Wednesday.
  • HBAR is down 1% but could rally higher amid a bullish outlook.

SWIFT launches live blockchain trials featuring Hedera

HBAR, the native coin of the Hedera blockchain, is down 1.2% in the last 24 hours despite positive development within the ecosystem. At press time, HBAR is trading at $0.235, but could rally higher in the near term.

The negative performance comes despite the global payments network SWIFT launching live blockchain trials featuring Hedera. In addition to that, asset manager Grayscale filed a Delaware trust for HBAR, a move viewed by some as laying groundwork for a future spot HBAR ETF.

However, HBAR’s value hasn’t increased as the broader crypto market is still bleeding. The bearish market conditions can be attributed to the hawkish FOMC minutes released on Thursday. The recent inflation data and the hawkish FOMC minutes have dented hopes of a September rate cut by the Fed. 

This resulted in Bitcoin dropping below $113k while Ether continues to struggle around the $4,200 mark.

HBAR targets $0.25 despite bearish market conditions

The HBAR/USD 4-hour chart is bearish and efficient thanks to the market’s ongoing correction. The technical indicators are also bearish, suggesting that sellers are currently in charge.

HBAR/USD 4H chart

The MACD lines are within the negative territory, while the RSI of 42 shows that HBAR’s current outlook is bearish. If the selling pressure continues, HBAR could drop below yesterday’s low and retest the Monthly low of $0.22461. The bulls would defend this support zone, as failure to do so could see HBAR drop massively to the $0.19 region.

However, the positive developments within the Hedera ecosystem could push HBAR’s price higher in the near term. HBAR could target the 4-hour TLQ at $0.243 before attempting to top the $0.25 level for the second time this week.

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A new era for crypto? DOJ official says ‘well-intentioned’ developers are not a target

  • A top DOJ official says writing code “without ill intent is not a crime.”
  • The promise comes after the conviction of the Tornado Cash developer.
  • The DOJ vows not to use indictments as a lawmaking tool for crypto.

Standing before an anxious audience of cryptocurrency innovators in Wyoming, a senior official from the US Department of Justice delivered the precise message they were desperate to hear: the government’s perceived war on software developers is over.

In a landmark speech, he declared that the simple act of writing code, when done without criminal intent, is not a crime.

The official, Matthew Galeotti, acting assistant attorney general in the DOJ’s criminal division, made the powerful assurances on Thursday at an event hosted by the new crypto advocacy group, American Innovation Project.

His words, met with vigorous applause, represented a dramatic and deliberate shift in tone from a department whose recent actions have sent a chill through the entire developer community.

A line in the sand after the storm

Galeotti drew a firm line, promising that the DOJ would not weaponize the legal system to indirectly regulate the digital asset space. 

“The department will not use federal criminal statutes to fashion a new regulatory regime over the digital asset industry,” he said. 

The department will not use indictments as a lawmaking tool. The department should not leave innovators guessing as to what could lead to criminal prosecution.

Then came the centerpiece of his address, a clear and unambiguous declaration: “merely writing code without ill intent is not a crime.”

This was not a vague promise. Galeotti directly addressed the legal statute used to convict the developers behind both Tornado Cash and Samourai Wallet, stating that the DOJ would not press charges under that code unless prosecutors have “evidence that a defendant knew of the specific legal requirements and willfully violated it.” 

He went further, extending a shield to projects where “software is truly decentralized and solely automates peer-to-peer transactions, and where a third party does not have custody and control over user assets.”

The shadow of the Southern district

But those words of reassurance were delivered against the chilling backdrop of recent history.

The speech comes on the heels of two high-profile and deeply controversial victories for US prosecutors.

Most prominent was the conviction of Tornado Cash developer Roman Storm for running an unlawful money transmitting business, a verdict that many in the industry saw as a direct criminalization of open-source code.

This is the conflict that has haunted the industry: a seeming disconnect between the department’s top brass and its most aggressive prosecutors.

An April memo from Deputy Attorney General Todd Blanche had already signaled a more careful approach under the Trump administration, even disbanding the national cryptocurrency enforcement team.

Yet despite that memo, the powerful Southern District of New York (SDNY) pressed forward with its cases against Storm and the Samourai Wallet developers, creating a climate of profound uncertainty and fear.

A cautious sigh of relief

Galeotti’s speech was a direct attempt to quell that fear and reassert a unified, top-down policy. 

“Developers of neutral tools with no criminal intent should not be held responsible for someone else’s misuse of these tools,” he stated. 

If a third party’s misuse violates criminal law, then that third party should be prosecuted, not the well-intentioned developer.

For an industry that has felt under siege, pouring millions into lobbying efforts to protect its innovators, the speech felt like a potential turning point.

It was a public validation of their core argument.

“The fact that the DOJ acknowledged that software developers should not be held responsible for third parties’ misuse of their code affirms what we have been advocating for years,” said Amanda Tuminelli, executive director of the DeFi Education Fund, in a statement. 

Let’s celebrate this as a moment of progress and remember that there is still more work to be done to change the law permanently.

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INJ price eyes $20 as Republic expands RWA with Injective

  • Injective (INJ) price outlook as Republic expands RWA integration with Injective.
  • The INJ token trades around $13.38 after dipping from highs of $16 amid crypto sell-off.
  • ETF anticipation, tokenization growth and other catalysts may help INJ bulls.

Injective price hovers around $13.38 on Thursday evening, about 3% down in the past 24 hours and over 12% down in the past week, but could Injective’s integration with Republic help INJ price bounce to $20?

Over the past week, Injective has dipped from highs of $16, with sell-off pressure across the market adding to the declines.

This is despite the finance-focused layer 1 blockchain’s notable milestones across the ecosystem.

Now with Republic, a leading tokenized investments platform, bulls may fancy higher marks if markets flip bullish.

Injective integrates with Republic

While the crypto market bleeds, platforms are taking time to build.

Integrations are among the critical elements, and Injective has added to this with its official integration with Republic.

The platforms announced the collaboration on Aug. 21 and aim to bring Injective’s Layer 1 ecosystem into Republic’s on-chain investment infrastructure.

Specifically, the goal is to enable Injective-based projects to fundraise via Republic’s Launchpad, utilize Republic Wallet for asset management, and benefit from Republic’s validator support.

Why is this integration notable?

Republic and Injective are building on an earlier collaboration that saw Republic become an INJ validator.

However, and notably, the integration is a step forward in expanding private markets on-chain.

“With 3 million+ community members across 150+ countries and a portfolio that includes 27 unicorns such as SpaceX, Robinhood, Carta, and Dapper Labs, Republic’s integration with Injective represents a pivotal moment in bridging traditional finance with onchain innovation,” Injective wrote.

INJ price outlook: Can bulls reclaim $30?

The technical outlook for INJ is leaning bearish in the short term, with RSI and MACD both handing bears the upper hand.

Currently trading near $13 means the Injective price is closer to the lows of $6.90 seen in April 2025 than the recent peak of $34 hit in December 2024.

The sell-off that has hit Bitcoin and altcoins does not help bulls.

Injective price chart from CoinMarketCap

However, if sentiment flips, a breakout to $20 could allow bulls to target the $30 level.

Other than the Republic integration, other significant upward drivers will be overall institutional interest and demand amid tokenization and real-world assets.

Injective’s quest to dominate with new financial primitives designed to expand its DeFi capabilities, and the Nvidia GPU derivatives market add to the positives.

Also bullish for Injective price is anticipation around ETF filings and expected approvals and whale accumulation will be key.

Bulls nonetheless need to hold above $13 and potentially $10 so as not to hand greater initiative to bears.

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