Ethereum price has recovered to around $2,493 after a sharp fall toward $2,400, but its daily Supertrend has turned bearish, and the 4-hour chart still shows negative money flow.
TradingView’s Binance ETH/USDT daily chart showed Ethereum at $2,492.98 on Oct. 9, up 0.73% for the session. The day’s price range extended from $2,471.05 to $2,520.54, leaving ETH below $2,500 despite an earlier move above that level.
The daily chart shows a sharp reversal from the trading range established near $2,650–$2,750 in late September and early October. Ethereum’s latest bounce has recovered only part of that decline, with the price still below the area where it traded before selling accelerated.
On the 4-hour TradingView chart, ETH stood at $2,493.31 after falling 0.53% during the displayed period. Its recovery from the recent low had stalled near $2,500, while the latest candles remained below the chart’s falling moving average.
Analyst Ella identified $2,500 as the first level buyers need to reclaim in an Oct. 9 post. She described Ethereum’s move from approximately $2,700 to a wick near $2,400 as a decline of close to 11%, with selling accelerating toward the end.
Ella said a recovery above $2,500 could ease some of the panic, while failure to regain that level would leave the bounce vulnerable. Her assessment places the immediate focus on whether Ethereum can hold above the round-number threshold after briefly trading through it.
The daily TradingView chart displayed a red Supertrend reading at $2,764.28 following Ethereum’s latest sell-off. The indicator had previously tracked below the price during the advance from August into September.
Its shift above ETH places the daily trend signal on the bearish side. At approximately $2,493, Ethereum traded nearly 10% below the Supertrend level, leaving a substantial gap between the rebound and a potential reversal of that signal.
The earlier green Supertrend line ended around $2,477.52, close to the current price. Ethereum’s sharp downward wick passed below that area before the rebound, while the newly displayed red line established a higher resistance threshold.
TradingView’s daily Average Directional Index stood at 35.48. The reading remained above 25, a commonly used threshold for an established trend, although the line had declined from its September highs.
ADX measures trend strength rather than direction. In Ethereum’s current setup, the bearish direction comes from the Supertrend change and the price breakdown, while the falling ADX shows that measured trend strength has eased from earlier readings.
The daily chart also places the former $2,650–$2,750 trading range above the market. A recovery into that area would retrace more of the recent fall, but ETH would still need to clear the Supertrend resistance near $2,764 to reverse the indicator’s bearish setting.
