Ether traded near $2,312 on October 27 and has lost about 13.6% in October, according to crypto.news. The price sits just above the lower Bollinger Band at about $2,301, and analyst Ash Crypto calls $2,300 immediate weekly support, with a breakdown exposing $1,900. Daan Crypto sees a longer-term accumulation range of $2,150 to $2,350, with resistance at $2,350 and $2,550. The daily MACD stays negative, at -61.21 against a signal line of -49.41, which points to continued selling momentum.
Flows are weak. U.S. spot Ether ETFs recorded net outflows of $88.58 million on October 26 and $110.50 million on October 22, according to SoSoValue data. Cumulative net inflows remain $12.63 billion, with total net assets of $14.07 billion.
On-chain signals are mixed. Santiment recorded about 169,770 ETH in net exchange withdrawals on October 22, the largest daily outflow in more than four months, but cautioned that similar withdrawals have occurred near price lows without confirming a bottom. Lookonchain reported that an early ICO participant sold 1,500 ETH, about $3.48 million, over eight hours. On the buy side, Bitmine added 10,452 ETH last week and holds 6,051,933 ETH, CoinGape reported.
The Ethereum Foundation also postponed the Glamsterdam upgrade’s planned October 26 activation on the Hoodi testnet, citing concerns about EIP-8037 and existing smart contracts. No new date was given, and mainnet is not affected. Traders are now waiting for the Fed decision on October 28. This is news, not investment advice.
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Sources:
- crypto.news: Ethereum price prediction, can ETH defend $2,300 amid ETF outflows
- CoinGape: FOMC decision tomorrow, will Bitcoin and Ethereum price rally
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