As of this writing, the Ethereum price trades at $1,333 with sideways movement in the last 24 hours. Over the previous week, the cryptocurrency records a 10% profit and stands as one of the best performers in the top 10 by market cap. 

According to a report from analysis firm Blofin, the market sentiment has improved based on widespread reports about an economic recession. These expectations of worse financial data could force the U.S. Federal Reserve (Fed) to loosen its monetary policy. 

Today, the Fed will provide further light on its next steps; if it slows down, the Ethereum price will likely continue on its bullish trajectory. The positive expectations are spilling to other crypto financial sectors.