October 26 $ETH Market Update
$ETH has fallen below 2300. How much further could it drop?
Ethereum hit a weekend low of 2281 and has now recovered to around 2310. Given its decline from 2526, bears still have the upper hand in the short term, but after such a sharp drop, a technical rebound is also possible.
This decline is not just due to technical weakness; the macroeconomic environment is also unfavorable.
Tensions in the Middle East and high oil prices have heightened inflation concerns, while expectations for Fed policy remain hawkish. AI capital spending and financing pressures among tech stocks are also weighing on market risk appetite.
BTC has fallen below $80,000 again, and ETF buying has lacked consistency, so market-wide liquidity conditions remain cautious.
The key level to watch is whether 2300 can be reclaimed and held. If the rebound continues to face resistance, watch 2200–2250 first; if that zone fails to hold, the next level to watch is 2000–2050.
The short-term outlook remains bearish. Prioritize waiting for a rebound to confirm resistance!
#ETH
$ETH has fallen below 2300. How much further could it drop?
Ethereum hit a weekend low of 2281 and has now recovered to around 2310. Given its decline from 2526, bears still have the upper hand in the short term, but after such a sharp drop, a technical rebound is also possible.
This decline is not just due to technical weakness; the macroeconomic environment is also unfavorable.
Tensions in the Middle East and high oil prices have heightened inflation concerns, while expectations for Fed policy remain hawkish. AI capital spending and financing pressures among tech stocks are also weighing on market risk appetite.
BTC has fallen below $80,000 again, and ETF buying has lacked consistency, so market-wide liquidity conditions remain cautious.
The key level to watch is whether 2300 can be reclaimed and held. If the rebound continues to face resistance, watch 2200–2250 first; if that zone fails to hold, the next level to watch is 2000–2050.
The short-term outlook remains bearish. Prioritize waiting for a rebound to confirm resistance!
#ETH
