Ethereum Market Analysis: Key Factors and the Impact of the Federal Reserve

Ethereum has rebounded near the lower edge of the parallel channel around 2460 on the four-hour time frame, which is also the edge of the overall flag pattern.

If Bitcoin experiences a deep pullback due to Federal Reserve interest rate issues, it is likely to break the flag pattern and first test the support around 2320, and it may even drop to 2100.

On a positive note, if the Federal Reserve lowers interest rates, it would be beneficial for Bitcoin to reach new highs, giving Ethereum a chance to surpass 3000, although this is not very likely.

Tonight's Federal Reserve interest rate decision is crucial and deserves close attention!

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