ETH closed today at 2,435, down from 2,537 yesterday—a 4% drop in one day.
Three things worth watching:
1. Over the past 24 hours, it has moved within the 2,393–2,493 range. Trading volume of 19 billion hasn’t been enough to drive a breakout, and the price is hovering in the lower half of the range.
2. Over the past 30 days, the high was 2,807, the low was 2,317, and the moving average was 2,612. The price is now 7% below the average and 5% above the 30-day low.
3. Polymarket’s bets on today’s closing price: ↑2,450 has 53% odds, while ↓2,400 has 18%. Most are betting on a modest gain.
CMC: ETH futures longs shrank by $283 million in a single day on October 15, and ETFs are still seeing net outflows. The probability of a Fed rate hike at the October 28 FOMC meeting fell from 22% to 17%, pointing to range-bound trading ahead of the meeting.
Three things worth watching:
1. Over the past 24 hours, it has moved within the 2,393–2,493 range. Trading volume of 19 billion hasn’t been enough to drive a breakout, and the price is hovering in the lower half of the range.
2. Over the past 30 days, the high was 2,807, the low was 2,317, and the moving average was 2,612. The price is now 7% below the average and 5% above the 30-day low.
3. Polymarket’s bets on today’s closing price: ↑2,450 has 53% odds, while ↓2,400 has 18%. Most are betting on a modest gain.
CMC: ETH futures longs shrank by $283 million in a single day on October 15, and ETFs are still seeing net outflows. The probability of a Fed rate hike at the October 28 FOMC meeting fell from 22% to 17%, pointing to range-bound trading ahead of the meeting.