ETH 2574｜After losing 2700, can 2500 hold?
ETH quickly fell from above 2700, hitting around 2540 yesterday, and has now rebounded to 2574. The real short-term focus is not this small rebound, but whether it can hold around 2550—if it holds here, there is a chance to retake 2600 and further test 2650; if 2550 is lost again, 2500 will become the next key support level.
The capital flow is not favorable for now. The US spot ETH ETF has seen net outflows for six consecutive trading days, with about $202 million outflow on October 6 alone, which clearly adds pressure to the rebound.
In terms of contracts, it is better to wait for confirmation: watch for 2600 to be firmly reclaimed before considering rebound potential; if 2550 is lost, then defend 2500. For ETH’s rapid sell-off and subsequent trading range, chasing longs.
ETH quickly fell from above 2700, hitting around 2540 yesterday, and has now rebounded to 2574. The real short-term focus is not this small rebound, but whether it can hold around 2550—if it holds here, there is a chance to retake 2600 and further test 2650; if 2550 is lost again, 2500 will become the next key support level.
The capital flow is not favorable for now. The US spot ETH ETF has seen net outflows for six consecutive trading days, with about $202 million outflow on October 6 alone, which clearly adds pressure to the rebound.
In terms of contracts, it is better to wait for confirmation: watch for 2600 to be firmly reclaimed before considering rebound potential; if 2550 is lost, then defend 2500. For ETH’s rapid sell-off and subsequent trading range, chasing longs.