CandleFocus

Ethereum (ETH) Loses Steam as Fed Rate Cut Fails to Fuel $4,500 Breakout

The recent interest rate cut by the Federal Reserve did not have the expected positive impact on Ethereum (ETH) prices, resulting in a drop of 4.50%. This has dampened hopes for a significant rally and raised questions about the future of Ethereum. On-chain indicators such as the price-Daily Active Addresses (DAA) divergence and the Coinbase Premium Gap suggest that further declines might be possible. Additionally, a head-and-shoulders pattern on the 4-hour chart indicates a potential trend reversal from bullish to bearish. However, the reliability of this pattern depends on trading volume, and if volume increases alongside buying pressure, Ethereum's price could rise rather than fall.

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