Ethereum (ETH) is now trading between two major technical levels, a resistance at $2,510-$2,560 and a support at $2,300-$2,360, after invalidating its bullish scenario on October 8 by closing below $2,520. The ETH price is trading around $2,450, down 4% over seven days and 7% over one month, approximately 50% of its all-time high of $4,949. US spot Ether ETFs recorded nearly $1 billion in net outflows between October 1 and 19, including $299 million for BlackRock’s ETHA ETF alone during the week of October 12-16. If the $2,300 support breaks, Ethereum could fall back toward the $2,150 area, where the weekly Kijun and the 200-day moving average converge. Conversely, a breakout above $2,560 would open the way toward $2,660 and then the pivotal zone of $2,700-$2,800.
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