{"id":440460,"date":"2026-10-20T16:40:16","date_gmt":"2026-10-20T09:40:16","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/ethereum-consolidates-around-key-technical-levels-amid-a-challenging-macro-backdrop-what-to-watch-next-440460\/"},"modified":"2026-10-20T16:40:16","modified_gmt":"2026-10-20T09:40:16","slug":"ethereum-consolidates-around-key-technical-levels-amid-a-challenging-macro-backdrop-what-to-watch-next","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/ethereum-consolidates-around-key-technical-levels-amid-a-challenging-macro-backdrop-what-to-watch-next-440460\/","title":{"rendered":"Ethereum consolidates around key technical levels amid a challenging macro backdrop. What to watch next?"},"content":{"rendered":"
\n

Ethereum has been consolidating
\n around key technical levels as the negative macro backdrop continues to weigh
\n on the crypto market. <\/p>\n

Meanwhile, the geopolitical
\n situation remains unchanged amid stalled US-Iran negotiations and the ongoing
\n Saudi-Houthi conflict. <\/p>\n

Oil prices are
\n back above the $100 level, the Federal Reserve can only get more hawkish amid higher
\n inflation and growth concerns are starting to take centre stage. That\u2019s a bad
\n mix for risk assets like Ethereum. <\/p>\n

This week, the
\n most important event will likely be the release of the US Flash PMIs on Friday,
\n barring a surprising breakthrough in US-Iran negotiations. <\/p>\n

If the data
\n disappoints, growth concerns will likely increase, and we could see another
\n selloff in Ethereum. Better than expected data, on the other hand, might lead
\n to a relief rally in the short-term but it wouldn\u2019t change the bigger picture
\n as it would just reinforce the need for rate hikes. <\/p>\n

\u00a0<\/p>\n

ETHEREUM TECHNICAL
\n ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that Ethereum<\/a>is consolidating around the
\n major 2,360 support and the trendline. The buyers will likely continue to step
\n in around these levels, with a defined risk below the trendline, to keep
\n targeting the 3,400 level. The sellers, on the other hand, will want to see the
\n price breaking lower to open the door for new lows and target the 1,900 level
\n next.<\/p>\n

ETHEREUM TECHNICAL
\n ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we
\n have a downward trendline defining the bearish structure. We can expect the
\n sellers to continue to lean on the trendline, with a defined risk above it, to
\n keep targeting a break below the major upward trendline. The buyers, on the
\n other hand, will want to see the price breaking higher to increase the bullish
\n bets into new highs, with the 2,570 level as the first target. <\/p>\n

ETHEREUM TECHNICAL
\n ANALYSIS \u2013 1 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, there\u2019s
\n not much we can add here as the buyers will continue to step in around the
\n support and the upward trendline or wait for a break above the downward one to
\n position for new highs, while the sellers will need a break below the upward
\n trendline to open the door for ne lows. The red lines define the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

On
\n Thursday<\/a> we get the latest US Jobless Claims figures, while on Friday we
\n conclude the week with the Flash US PMIs.<\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum has been consolidating around key technical levels as the negative macro backdrop continues to weigh on the crypto market. Meanwhile, the geopolitical situation remains unchanged amid stalled US-Iran negotiations and the…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-440460","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=440460"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440460\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=440460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=440460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=440460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}