The post Ethereum (ETH) Price Analysis for October 30 appeared on BitcoinEthereumNews.com. Most of the coins keep setting new local lows, according to CoinStats. ETH chart by CoinStats ETH/USD The price of Ethereum (ETH) has dropped by 4.85% over the last day. Image by TradingView On the hourly chart, the rate of ETH is going down after breaking the local support of $3,839. If bulls cannot seize the initiative, the correction is likely to continue to the $3,750 mark. Image by TradingView On the longer time frame, the situation is also bearish. Traders should focus on the daily candle’s closure in terms of the support of $3,694.  You Might Also Like If it breaks out, the accumulated energy might be enough for a more profound drop to the $3,800 zone. Image by TradingView From the midterm point of view, there are no reversal signals yet. As the rate of the main altcoin is far from main levels, one should pay attention to the interim area of $4,000. Until the price is below that mark, bears keep controlling the situation on the market. In this case, there is a high chance of seeing a test of the $3,354 support soon. Ethereum is trading at $3,792 at press time. Source: https://u.today/ethereum-eth-price-analysis-for-october-30The post Ethereum (ETH) Price Analysis for October 30 appeared on BitcoinEthereumNews.com. Most of the coins keep setting new local lows, according to CoinStats. ETH chart by CoinStats ETH/USD The price of Ethereum (ETH) has dropped by 4.85% over the last day. Image by TradingView On the hourly chart, the rate of ETH is going down after breaking the local support of $3,839. If bulls cannot seize the initiative, the correction is likely to continue to the $3,750 mark. Image by TradingView On the longer time frame, the situation is also bearish. Traders should focus on the daily candle’s closure in terms of the support of $3,694.  You Might Also Like If it breaks out, the accumulated energy might be enough for a more profound drop to the $3,800 zone. Image by TradingView From the midterm point of view, there are no reversal signals yet. As the rate of the main altcoin is far from main levels, one should pay attention to the interim area of $4,000. Until the price is below that mark, bears keep controlling the situation on the market. In this case, there is a high chance of seeing a test of the $3,354 support soon. Ethereum is trading at $3,792 at press time. Source: https://u.today/ethereum-eth-price-analysis-for-october-30

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more