Ethereum (ETH): daily brief · Nov 7, 2026
Technicals
Price is below the EMA20 (~$2,348), EMA50 (~$2,405) and EMA100 (~$2,344), and above the 200-day SMA ($2,157). It needs to reclaim $2,400 for a trend change (SecureShift).
Daily RSI is 38–40 and Stochastic ~28.
Resistance: $2,251 · $2,344–2,355 · $2,405 · $2,503
Support: $2,205 · $2,157 · $2,107 · $1,972–2,000
Fundamentals and on-chain
ETH ETFs: −$93.2M on Nov 6 (ETHA −$90.8M). The two-day total is −$193M and the week −$365M. Cumulative inflows are $11.9B.
Whales: one wallet accumulated ~13,077 ETH (~$30M) over the week. Its latest buy was 3,300 ETH (~$7.4M) withdrawn from Binance (Lookonchain).
Staking: 44.4M ETH staked (36.4% of supply), ~2.44% APR. The entry queue is ~987K ETH (~17.6 days), down from 1.03M; the exit queue is only ~4.3K ETH.
Glamsterdam: the Hoodi testnet fork stays on hold until eight smart-contract invariant issues (EIP-8037/8038) are fixed. The roadmap still says Q4 2026.
L2s and burn: no fresh data found.
Derivatives: options open interest is $5.57B (−10.3%), with calls 62% of it. The biggest positions are the Dec 25 $3,200 call and the Nov 13 $2,000 put. Liquidations were ~$213M (85% longs) on Nov 6. Funding: no data found.
Top news
Whale adds 13,077 ETH in a week.
ETH ETFs lose $365M this week.
Glamsterdam’s Hoodi fork remains on hold.
Macro: Fed hike odds rise to ~80% after strong jobs data.
Forecasts
🟢 Bullish: $2,350–2,400 if ETH breaks $2,251 and reclaims the 100-day MAs.
⚪ Base: $2,160–2,350, a range above the 200-day SMA until CPI.
🔴 Bearish: $2,000–2,100 on a daily close below $2,157.
Analysts: Citi’s 12-month target is $3,028. Standard Chartered targets $4,000 by end-2026. No new firm calls today.
Upcoming events
Mon Nov 9, 02:00: weekly close
Tue Nov 10, 15:30: US October CPI
Fri Nov 13, ~10:00: ETH options expiry
Wed Dec 9, 21:00: FOMC decision
The key question is whether that whale demand can hold ETH above its 200-day SMA ($2,157) through CPI week?