Ethereum and the Russell 2000 index are exhibiting a growing correlation, influenced by their mutual sensitivity to interest rate forecasts. Analysts highlight that the likelihood of multiple Federal Reserve rate cuts is high, with a 95% probability for October 29 and 82% for December. These potential cuts could drive both Ethereum and the Russell 2000 higher. Ethereum is currently testing the $4,400 support level, with technical indicators such as the cup-and-handle pattern and its yield-generating features signaling bullish momentum.