FX.co ★ #Ethereum chart analysis

Hello everyone! As long as the price of Ethereum is below $2 565, I will be shorting rallies to $2 500–2 565. Nearest resistance — $2 500 and $2 565, next — $2 640. Primary target — $2 400 (recent low), alternative — $2 300 (a round number in my estimate, below the lower bound of the previous range). Invalidated — a daily close above $2 640. Rationale: Spot ETH-ETF have lost investments for eight sessions in a row: outflow of about $641 mln since September 29, about $579 mln in October . The Fed may raise the rate in December. This is the main macro factor for ETH as a risk asset. Geopolitical and inflationary risks due to energy prices. Brent around $103.5, Trump's promise not to attack Iran until November 3 is in effect, but the blockade remains. On the decline $318–356 mln of longs were liquidated, the most among large coins . ETH is weaker than BTC: year-to-date roughly −18% versus −7.5% for BTC . Calendar for the next week: Wednesday: US CPI. Forecast: headline +0.6% m/m, core +0.2%. Core 0.3% and above will bring back the October hike and push ETH to $2 400 and below. Core 0.2% will give a bounce to $2 565–2 640. Thursday: PPI, US retail sales, Warsh's speech.