ETH is looking strong today, climbing above 2,300 as the rebound gains momentum
ETH performed strongly today, climbing back above $2,300 and gaining around 1.5%–2%, with a clear rebound from its recent low.
Quick analysis:
The market has largely absorbed the shock from the Binance hack, outflows have slowed, and the market is beginning to recover.
Technically: After rebounding from its low, ETH has held above 2,300, with short-term bulls gaining some momentum. Watch the 2,350–2,370 resistance zone above; a breakout could open up more room to rise. Support lies around 2,260–2,280.
Macro: The U.S. midterm elections are approaching (November 3), and the latest nonfarm payrolls data is also due, so volatility may increase. ETF flows are still skewed toward outflows, and institutions have yet to return in force.
For now, this is an oversold rebound. Momentum is decent, but it’s too early to say the trend has fully reversed. In the short term, watch for opportunities to buy on dips after support is retested; avoid blindly chasing prices near resistance.
#ETH
ETH performed strongly today, climbing back above $2,300 and gaining around 1.5%–2%, with a clear rebound from its recent low.
Quick analysis:
The market has largely absorbed the shock from the Binance hack, outflows have slowed, and the market is beginning to recover.
Technically: After rebounding from its low, ETH has held above 2,300, with short-term bulls gaining some momentum. Watch the 2,350–2,370 resistance zone above; a breakout could open up more room to rise. Support lies around 2,260–2,280.
Macro: The U.S. midterm elections are approaching (November 3), and the latest nonfarm payrolls data is also due, so volatility may increase. ETF flows are still skewed toward outflows, and institutions have yet to return in force.
For now, this is an oversold rebound. Momentum is decent, but it’s too early to say the trend has fully reversed. In the short term, watch for opportunities to buy on dips after support is retested; avoid blindly chasing prices near resistance.
#ETH
