Ethereum saw a notable drop this past week, with many altcoins following in its footsteps amid a downturn in risk assets tied to rising interest rates. Investors reacted to the unexpected rate surge with unease, as many had anticipated rates would fall rather than climb.<\/p>\n\n\n\n
This downward shift pushed Ethereum right to a crucial support trend line at $2,385, a level that has held firm since early August. This trend line, originating from the August 5th lows, has been tested six times now, each time providing support to the price.<\/p>\n\n\n\n
However, Ethereum's outlook remains cautious. Each additional test of this support line may erode its strength, making it increasingly fragile. Moreover, the price activity since August\u2014oscillating between $2,800 and $2,300\u2014has shaped a bear flag pattern, which historically suggests a greater chance of further decline.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Keeps Up The Bullish Momentum Above $67 Despite Price Consolidation, ETH Returns Below The Daily Bearish Trendline","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-keeps-up-the-bullish-momentum-above-67-despite-price-consolidation-eth-returns-below-the-daily-bearish-trendline","to_ping":"","pinged":"","post_modified":"2024-10-28 05:13:13","post_modified_gmt":"2024-10-27 18:13:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19305","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};