$ETH /USD Complete Analysis — 8 Nov 2026
Current price: around $2,235. $ETH is below its short-term moving averages, so the immediate structure remains bearish.
- Trend: Bearish short-term / medium-term
- 20-day average: ~$2,315
- 50-day average: ~$2,483
- Daily RSI: ~39 — weak, but recovering from oversold conditions
- MACD: Selling momentum is easing, but there is not yet a strong bullish confirmation.
Key levels
Level Price
🔴 Resistance 3 $2,354
🔴 Resistance 2 $2,337
🟡 Pivot $2,307
Current ~$2,235
🟢 Support 1 $2,198
🟢 Support 2 $2,181
🟢 Support 3 $2,164
A break below $2,198 could expose ~$2,181 and then ~$2,164. Conversely, reclaiming $2,307 would improve the short-term structure and open a move toward $2,337–$2,354.
🎯 Trading scenarios
Bearish scenario:
If $ETH remains below $2,307, sellers have the advantage. A decisive break of $2,198 could target $2,181 → $2,164, with further downside possible if those levels fail.
Bullish scenario:
ETH needs to reclaim $2,307 first. A sustained move above it could target $2,337, followed by $2,354. A stronger reversal would require breaking higher resistance and eventually reclaiming the ~$2,480 area.
Current bias: 🔴 Bearish, but approaching an important support zone.
📰 Fundamental/market factors
ETH has recently faced pressure from continued ETF outflows; one recent report described a sixth consecutive week of ETF outflows, while derivatives positioning includes notable interest around the $2,200 call and $2,000 put levels.
My overall view
ETH/USD: 5/10 bearish
The most important level right now is $2,198. Holding this area and reclaiming $2,307 would give bulls a chance to build a recovery. Losing $2,198 would make the downside setup considerably stronger.
Short-term plan:
- Above $2,307: bullish recovery setup
- $2,198–$2,307: range/uncertain zone
- Below $2,198: bearish continuation
- Major recovery confirmation: $2,337 → $2,354+
This is market analysis, not financial advice. Crypto can move sharply and invalidate technical levels quickly.