FX.co ★ #Ethereum chart analysis

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