With Ethereum poised to close the weekly candle above the $2800, a bull run is on the horizon, especially as the Fed cuts interest rates...
A weakening of the USD is expected as the Fed adopts a more dovish stance. What does this mean for ETH?recent price recovery from the $2,100-level has sparked speculation that it may replicate its 2016 and 2019 successes in 2024.
In fact, historical patterns reveal that ETH/BTC broke down in 2016, 2019, and now in 2024, with previous breakdowns leading to rallies in September.Notably, in both 2016 and 2019, ETH peaked on 19-20 September. These dates are close to the date when the Fed is scheduled to cut rates next month . This could be more than just a coincidence though, signaling potential gains for the world’s largest altcoin.At the time of writing, ETH/USD remained below its 20-week Simple Moving Average .
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