ETH is sitting exactly where it has to prove itself — $2,241, down almost 8% today, and the chart is telling a very specific story.
It's parked right on the daily 0.786 Fib near $2,240, with the first real support at $2,251 already tested and the next floor at $2,205. Lose that on a daily close and $2,107 is the next stop — and honestly, below that the $2,100 level is the one traders flag as the high-timeframe line that actually matters. On the upside, ETH is under every major average: the 20- and 100-day EMAs cluster around $2,345–2,355, and it still hasn't reclaimed its $2,309 realized price since the Binance hack. RSI near 39 says sellers are in control but not yet washed out.
My lean: this is a hold-or-fold spot, not a chase. If $2,205 holds into the US jobs report this morning, a bounce back toward $2,355 is very much on — and one green shoot is real, ETH ETFs took in $53M on Nov 4 after seven straight days of outflows. But a daily close under $2,205 flips my read completely, and then I'd be looking at $2,107, not $2,800.
Are you watching the $2,205 line with me, or is $2,100 the level you'd actually buy? Not financial advice.
$ETH
It's parked right on the daily 0.786 Fib near $2,240, with the first real support at $2,251 already tested and the next floor at $2,205. Lose that on a daily close and $2,107 is the next stop — and honestly, below that the $2,100 level is the one traders flag as the high-timeframe line that actually matters. On the upside, ETH is under every major average: the 20- and 100-day EMAs cluster around $2,345–2,355, and it still hasn't reclaimed its $2,309 realized price since the Binance hack. RSI near 39 says sellers are in control but not yet washed out.
My lean: this is a hold-or-fold spot, not a chase. If $2,205 holds into the US jobs report this morning, a bounce back toward $2,355 is very much on — and one green shoot is real, ETH ETFs took in $53M on Nov 4 after seven straight days of outflows. But a daily close under $2,205 flips my read completely, and then I'd be looking at $2,107, not $2,800.
Are you watching the $2,205 line with me, or is $2,100 the level you'd actually buy? Not financial advice.
$ETH
