ETH at $2,360—would you dare to buy the dip?
More than 90% of longs just got wiped out, ETFs saw $130 million in outflows in a day, and everyone online is shouting, “The bear market is here.” But the RSI has fallen to 34, and the 200-day moving average is right below. Is this the last chance to get out—or a golden pit dug by the market manipulators?
First, the surface picture: blood in the streets and extreme fear.
ETH has plunged from $2,800 in late September to $2,360, down 5% intraday and tumbling alongside BTC. Liquidations over the past 24 hours totaled $290 million, 90% of them longs—which means almost everyone who went long in the past day has been wiped out. Spot ETFs saw net outflows of $129.5 million in a single day, led by BlackRock’s ETHA. South Korea’s stock market triggered a circuit breaker, U.S. Treasury yields surged to 5.3%, and risk assets are all falling. The price has broken below the 50-day moving average at $2,550, the MACD is bearish, and everyone is selling at a loss.
First: CPI came in hotter than expected, but the market has already voted with its feet
The U.S. September CPI rose 3.7% year over year, while core CPI came in at 2.6%; both were above expectations. The odds of a rate hike have surged, and the 10-year Treasury yield has climbed to 5.3%. Sounds scary?
These figures are already in the past—the market started falling well before now. From $2,800 to $2,360, that’s a 15% drop. The money that was going to flee has already fled, and the positions that were going to get liquidated have already been liquidated.
Those only panicking over CPI now are the last to catch on.
When the bad news is fully priced in, that’s often when the bottom forms.
Second: $290 million in liquidations, 90% of them longs—the most painful, but also the most encouraging signal
The longs have been wiped out, which means leverage has been flushed from the system and selling pressure has eased significantly.
If everyone is long, how can the whales push the price up?
They have to take out the longs first so they can move more freely.
$290 million in liquidations, 90% of them longs—that’s a classic long squeeze.
Historically, these extreme liquidation events are often followed by a sharp rebound.
The moment your position gets liquidated could be the moment someone else starts picking up discounted tokens.
Third: a technical signal has emerged that you shouldn’t ignore
The RSI (14) has fallen to 34–36, nearing oversold territory. The Stochastic oscillator is in the oversold zone. ETH is at $2,360, with the 200-day moving average at $2,140–$2,143; the medium-term uptrend structure remains intact.
Key support levels:
$2,350–$2,360: Current price range, near the intraday low
$2,300: Psychological level
$2,250: Stronger support
$2,200–$2,150: 200-day moving average and previous structure—a rock-solid floor
Resistance levels:
$2,400–$2,420: Intraday highs
$2,450–$2,500: Short-term resistance
$2,550: 50-day moving average and medium-term dividing line
As long as $2,300 holds, a rebound could come at any moment. Only a break below $2,300 would put $2,250—or even $2,150—in focus.
More than 90% of longs just got wiped out, ETFs saw $130 million in outflows in a day, and everyone online is shouting, “The bear market is here.” But the RSI has fallen to 34, and the 200-day moving average is right below. Is this the last chance to get out—or a golden pit dug by the market manipulators?
First, the surface picture: blood in the streets and extreme fear.
ETH has plunged from $2,800 in late September to $2,360, down 5% intraday and tumbling alongside BTC. Liquidations over the past 24 hours totaled $290 million, 90% of them longs—which means almost everyone who went long in the past day has been wiped out. Spot ETFs saw net outflows of $129.5 million in a single day, led by BlackRock’s ETHA. South Korea’s stock market triggered a circuit breaker, U.S. Treasury yields surged to 5.3%, and risk assets are all falling. The price has broken below the 50-day moving average at $2,550, the MACD is bearish, and everyone is selling at a loss.
First: CPI came in hotter than expected, but the market has already voted with its feet
The U.S. September CPI rose 3.7% year over year, while core CPI came in at 2.6%; both were above expectations. The odds of a rate hike have surged, and the 10-year Treasury yield has climbed to 5.3%. Sounds scary?
These figures are already in the past—the market started falling well before now. From $2,800 to $2,360, that’s a 15% drop. The money that was going to flee has already fled, and the positions that were going to get liquidated have already been liquidated.
Those only panicking over CPI now are the last to catch on.
When the bad news is fully priced in, that’s often when the bottom forms.
Second: $290 million in liquidations, 90% of them longs—the most painful, but also the most encouraging signal
The longs have been wiped out, which means leverage has been flushed from the system and selling pressure has eased significantly.
If everyone is long, how can the whales push the price up?
They have to take out the longs first so they can move more freely.
$290 million in liquidations, 90% of them longs—that’s a classic long squeeze.
Historically, these extreme liquidation events are often followed by a sharp rebound.
The moment your position gets liquidated could be the moment someone else starts picking up discounted tokens.
Third: a technical signal has emerged that you shouldn’t ignore
The RSI (14) has fallen to 34–36, nearing oversold territory. The Stochastic oscillator is in the oversold zone. ETH is at $2,360, with the 200-day moving average at $2,140–$2,143; the medium-term uptrend structure remains intact.
Key support levels:
$2,350–$2,360: Current price range, near the intraday low
$2,300: Psychological level
$2,250: Stronger support
$2,200–$2,150: 200-day moving average and previous structure—a rock-solid floor
Resistance levels:
$2,400–$2,420: Intraday highs
$2,450–$2,500: Short-term resistance
$2,550: 50-day moving average and medium-term dividing line
As long as $2,300 holds, a rebound could come at any moment. Only a break below $2,300 would put $2,250—or even $2,150—in focus.