FX.co ★ #Ethereum chart analysis

Hi everyone! As long as Ethereum price is below $2 565, I will short rallies to $2 500–2 565. Nearest resistance — $2 500 and $2 565, next — $2 640. Main target — $2 400 (recent low), alternative — $2 300 (round number in my view, below the lower boundary of the previous range). Invalidation — daily close above $2 640. Scenarios: Spot ETH-ETFs have seen outflows for eight sessions in a row: outflow of about $641 m since September 29, about $579 m in October . The Fed may raise the rate in December. This is the main macro factor for ETH as a risk asset. Geopolitical and inflation risks due to energy prices. Brent around $103.5, Trump's promise not to attack Iran until November 3 holds, but the blockade remains. On the drop $318–356 m of longs were liquidated, the most among major coins . ETH is weaker than BTC: year-to-date roughly −18% versus −7.5% for BTC . Calendar for 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 toward $2 400 and below. Core 0.2% will give a bounce to $2 565–2 640. Thursday: PPI, US retail sales, Waller's speech.