Ethereum Price Looking At Possible Downward Shift – More Headaches Ahead For ETH?

The post-Merge landscape of Ethereum took many by surprise; the figures and the outcome weren’t something they had in mind. Bad macroeconomic conditions and other negative factors overshadowed what was expected as a breakthrough. It was, in some ways, but the fanfare pre-Marge was so hyped up, until a few days following the event. The optimism that had been building up in the days leading up to the CPI report, which ultimately brought down the broader financial markets, was wiped out in the fall on September 13. Related Reading: Meme Coin Wars – Floki Inu Vs. Dogecoin And Shiba Inu – Who Wins? Ethereum (ETH) Feeling Fed Hike Stress This Early? As of this writing, Ether was down as it was reported that a further 75 basis point hike in interest rate by the U.S. Federal Reserve is possible in November if economic conditions don’t improve. ETH, this early, could be starting to get stressed with the Fed’s looming rate bump. The chart suggests that ETH may be in for more losses, but what does it actually show? Chart: TradingView.com If the graph is any indication, things aren’t looking so rosy. Since September 19th, the altcoin has traded between $1,408.15 and $1,219.29, with support located at the 61.80 percent Fibonacci retracement level, now at $1,265.02. The bull bear power indicator has formed a downward pointing at the time of writing. This may indicate that it will be even more challenging for prices t...