FX.co ★ #Ethereum chart analysis

Hello everyone! Ethereum is showing a dead-cat bounce, which is capped, hits 2,500–2,548 and pulls back to 2,440. The main short target is 2,440, the alternative 2,376–2,400 (the zone where selling stopped several days in a row). The short scenario is invalidated by a daily close above 2,548: then 2,781 opens up. Nearest support 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 $1.08 billion in October, the largest monthly outflow of the year, wiping out September's inflow of $832 million. Institutional investors have been withdrawing funds for 15 sessions in a row . ETH's price in October fell, by about 9.7%. The rise on October 21 was mainly fueled by $43 million of short liquidations and following the stock market rally, not by purchases of ETH ETF shares. Although staking is at a record level (43.8 million ETH in Q3),despite falling yield on holdings. Bitmine has accumulated almost 5% of the supply and continues to buy.