Ethereum’s (ETH) price action has remained underwhelming recently, with a 9% drawdown in September. ETH’s Q3 is en route to becoming the third-worst period in terms of returns since inception. Yet, favourable technicals are starting to surface for the altcoin as a bullish fractal is reaching a conclusive state.

Although ethereum is not the first altcoin, it’s the most popular and successful. The cryptocurrency was launched in 2015. Its blockchain has generated tremendous growth and returns over the past nine years.

Ethereum (ETH) open interest has trended lower in recent weeks, indicating an overall loss of enthusiasm for the asset. Funding rates continue to stay on the lower side, often turning negative.