The recent conclusion of the Fed’s FOMC meeting, which forecasted fewer rate cuts in 2025, has resulted in a significant crash in the cryptocurrency markets. Specifically, Ethereum witnessed a 7% decrease in its value by the close of Wednesday.
Currently, Ethereum is trading at $3,700. Technical analysis of the four-hour chart displays what analysts identify as a sell signal, attributed to a prominent double-top formation. This formation is a classic indicator that a potential reversal could be imminent for Ethereum's price movement.
As traders and investors assess the market, many are on the lookout for further indications that confirm this trend.
