FX.co ★ #Ethereum chart analysis

Hello everyone! Ethereum is showing a dead cat bounce, which is capped, hits 2,500–2,548 and retraces to 2,440. The main short target is 2,440, the alternate is 2,376–2,400 (area where selling paused for several consecutive days). The short scenario is invalidated by a daily close above 2,548: that would open 2,781. Nearest support is 2,440–2,444 , next 2,376–2,400, then 2,324–2,362 and 2,215. Nearest resistance 2,500 psychological level), next 2,548, above 2,781. US spot ETH ETFs lost about $1.08bn in October, the largest monthly outflow of the year, wiping out September's $832m inflow. Institutional investors have been withdrawing funds for 15 consecutive sessions . ETH's price fell about 9.7% in October. The rally on October 21 was mainly fueled by $43m of short liquidations and following the rise in the stock market, rather than purchases of ETH ETF shares. Although staking is at a record level (43.8m ETH in Q3),despite declining yields for holders. Bitmine has accumulated nearly 5% of the supply and continues to buy.