Ethereum Loses Long-Term Trend Channel: What Does This Mean?

Recently, Ethereum experienced the breakage of its long-term trend channel, which had been maintained since its inception. This channel represented a consistent growth trajectory over the years. The loss of this technical support suggests a significant shift in the cryptocurrency market, with the possibility of an extended adjustment period that could extend until the end of 2024. The breaking of this channel is a relevant technical event that deserves the attention of the cryptocurrency community as it may indicate changes in the medium-term market dynamics.