Ethereum: Bearish Movement Expected to Continue
2024-10-10

Ethereum: Bearish Movement Expected to Continue
 
In recent days, our analysis shows that ETH has already declined by nearly 4.5%. 
It appears that the bearish trend will persist, aligning with our expectations. 
However, the trading volume remains low, which is also a challenge observed also with BTC.

The ongoing conflict involving Israel, Hamas, Lebanon, and recently Iran, is exerting downward pressure on the price. 

Also, the USD, a safe-haven currency, continues to support the strengthening of the USD.Upcoming events such as the FOMC rate decision and today’s release of US CPI data further bolster the USD’s positive outlook.

Overall, the favorable USD environment could push ETH down even further, as indicated in the chart.

 You may find more details in the chart!
Thank you and Good Luck!

❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️