$ETH retained some support on the downside, but the upward test continued to fall short. I’ll maintain a cautious wait-and-see stance: around 2489, the price has not yet given way on a closing basis, but neither price action nor trading volume has offered much support for a renewed breakout above 2500.
In the previous hour, from 22:00 to 23:00, the close was 2491.31, moving back above 2487.57 and 2489, with a higher low—evidence of a local recovery. In the latest hour, from 23:00 to 24:00 Beijing time on October 9, the open was 2491.30, the high 2494.50, the low 2485, and the close 2489.03, down about 0.09% for the hour. The close remained slightly above 2489 and above 2487.57, although the low dipped below this zone. With a closing margin of just 0.03, it’s difficult to describe 2489 as firm support.
The new low of 2485 was above the previous hour’s 2478.30, narrowing the downside range and providing evidence that local buying support remains. However, the high of 2494.50 was below the previous high of 2503.08. In the prior hour, the price had reached above 2500; in this hour, it did not even test that round-number level. A higher low and a lower high appeared at the same time, indicating that the trading range is narrowing. We shouldn’t draw a conclusion by focusing on only one direction.
Trading volume fell from about 28.7321 million USDT between 22:00 and 23:00 to 18.9479 million between 23:00 and 24:00, a decrease of about 34.1%. Aggressive buying was about 10.0460 million, or 53.0% of volume, up from 50.4% previously. The share of aggressive buying improved, yet the close edged lower and total volume fell substantially. This makes me focus more on whether the advance is effective, rather than taking a buyer share above 50% alone as proof that buying pressure is strengthening steadily.
These figures reflect trading in the spot pair. They do not identify the source of funds, indicate net inflows, or justify labeling participants as institutions or major players. Low-volume, narrow-range trading may mean both sides have temporarily slowed down, or it may reflect a wait for a new directional move; the current data does not confirm either explanation. In particular, when the close is near a key level, trading direction and the price outcome need to be assessed together.
Compared with the previous piece, we now have a full additional hour testing whether support can hold: 2487.57 to 2489 has not yet been lost on a closing basis, but the upside test fell from 2503.08 to 2494.50, while volume declined another 34.1%. This offers a little more consecutive support for a “local recovery,” while weakening the case for upgrading it to a sustained strengthening trend. The previous view that 2500 had not been firmly reclaimed still applies—and this time, the price did not even reach that level again.
The source is Binance ETHUSDT spot one-hour continuous candlestick data; prices are in USDT. The new hour after 00:00 is not yet complete, so its intrahour movement cannot be treated in advance as confirmation from the next candle. The “breaks above 2500” wording in the headline describes a touch that happened earlier; it does not mean the price is holding above that level now.
Next, I’ll watch whether 2487.57 to 2489 can produce consecutive completed closes after a retest, and whether trading volume and price progress recover together if the price breaks above 2494.50 and tests 2500 to 2503.90 again. If a completed close falls back below 2487.57, followed by breaks below 2485 and 2478.30, the basis for local support will weaken. If the price reclaims the round-number level and holds it across consecutive closes, there will be grounds to raise the assessment. For now, I’m waiting for the price to establish an advantage rather than treating a single buyer-share figure as confirmation.
In the previous hour, from 22:00 to 23:00, the close was 2491.31, moving back above 2487.57 and 2489, with a higher low—evidence of a local recovery. In the latest hour, from 23:00 to 24:00 Beijing time on October 9, the open was 2491.30, the high 2494.50, the low 2485, and the close 2489.03, down about 0.09% for the hour. The close remained slightly above 2489 and above 2487.57, although the low dipped below this zone. With a closing margin of just 0.03, it’s difficult to describe 2489 as firm support.
The new low of 2485 was above the previous hour’s 2478.30, narrowing the downside range and providing evidence that local buying support remains. However, the high of 2494.50 was below the previous high of 2503.08. In the prior hour, the price had reached above 2500; in this hour, it did not even test that round-number level. A higher low and a lower high appeared at the same time, indicating that the trading range is narrowing. We shouldn’t draw a conclusion by focusing on only one direction.
Trading volume fell from about 28.7321 million USDT between 22:00 and 23:00 to 18.9479 million between 23:00 and 24:00, a decrease of about 34.1%. Aggressive buying was about 10.0460 million, or 53.0% of volume, up from 50.4% previously. The share of aggressive buying improved, yet the close edged lower and total volume fell substantially. This makes me focus more on whether the advance is effective, rather than taking a buyer share above 50% alone as proof that buying pressure is strengthening steadily.
These figures reflect trading in the spot pair. They do not identify the source of funds, indicate net inflows, or justify labeling participants as institutions or major players. Low-volume, narrow-range trading may mean both sides have temporarily slowed down, or it may reflect a wait for a new directional move; the current data does not confirm either explanation. In particular, when the close is near a key level, trading direction and the price outcome need to be assessed together.
Compared with the previous piece, we now have a full additional hour testing whether support can hold: 2487.57 to 2489 has not yet been lost on a closing basis, but the upside test fell from 2503.08 to 2494.50, while volume declined another 34.1%. This offers a little more consecutive support for a “local recovery,” while weakening the case for upgrading it to a sustained strengthening trend. The previous view that 2500 had not been firmly reclaimed still applies—and this time, the price did not even reach that level again.
The source is Binance ETHUSDT spot one-hour continuous candlestick data; prices are in USDT. The new hour after 00:00 is not yet complete, so its intrahour movement cannot be treated in advance as confirmation from the next candle. The “breaks above 2500” wording in the headline describes a touch that happened earlier; it does not mean the price is holding above that level now.
Next, I’ll watch whether 2487.57 to 2489 can produce consecutive completed closes after a retest, and whether trading volume and price progress recover together if the price breaks above 2494.50 and tests 2500 to 2503.90 again. If a completed close falls back below 2487.57, followed by breaks below 2485 and 2478.30, the basis for local support will weaken. If the price reclaims the round-number level and holds it across consecutive closes, there will be grounds to raise the assessment. For now, I’m waiting for the price to establish an advantage rather than treating a single buyer-share figure as confirmation.