Ethereum's new supply turns deflationary for the first time since the Merge.
Ethereum's outlook for the long term tilts bearish, nevertheless, due to constant macro warnings led by the Federal Reserve's interest rate hikes to
. Ether remains susceptible to these risks owing to its consistently positive correlation with U.S. equities.Thus, a drop below Ether's current rising trendline support — as explained above — could mean further declines in the event of a technical breakdown, as show in the chart below.Ascending Triangles are continuation patterns that resolve after the price breaks out in the direction of its previous trend.
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