Ethereum dipped below $2,300 again, touching a low of around $2,296 before bouncing to roughly $2,320. ETH is now down about 12% in October after peaking near $2,777 on October 2, and it has fallen much harder than Bitcoin over the past month. The pressure is coming from ETF outflows, market-wide liquidations and a delay in testing the Glamsterdam upgrade, while traders wait for Wednesday's Fed decision.
My take: $2,300 is the level that matters right now. Buyers have defended it twice this month, but a daily close below it would put the August low near $2,220 in play, followed by $2,200. On the upside, ETH first needs to reclaim $2,400 before the $2,480 to $2,500 zone comes back into focus. I'm staying patient until the Fed decision is out and waiting for a daily close before taking a side.
What's your view: will $2,300 hold, or are we heading to $2,200? Let me know below 👇
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