ETH is trading around $2,910 – $2,925 as of recent data.
After past several weeks of volatility and a steep drop from summer highs, ETH appears to be trying to stabilize — but broader market conditions remain cautious.
🔹 What’s happening technically
There’s some short-term bounce as the price attempts to hold above support zones.
However, the broader technical structure remains weak: until ETH decisively breaks above key resistance levels (near $3,200–$3,400), there is a risk of further downside or sideways action.
🔹 What to watch next
If buying pressure returns, a move back toward $3,200–$3,400 would signal recovery interest.
On the other hand, failure to hold support could push ETH lower — possibly testing prior support zones.
Macroeconomic factors, global crypto-market liquidity, and adoption/news developments will continue to influence ETH’s direction. $ETH $BTC $BNB #ETH🔥🔥🔥🔥🔥🔥 #ProjectCrypto #USJobsData
1. The broader crypto market is showing signs of a rebound as Bitcoin climbs above $87,000, and Ethereum crosses the $2,900 mark. Oversold conditions flagged by on-chain analysts are now being met with early recovery signals.
2. But the uptick could be fragile — some experts are cautioning it may be a “dead-cat bounce” rather than a full trend reversal.
3. Regulatory and institutional flows are worth noting: US spot ETFs for Bitcoin saw net outflows of ~$1.2 billion last week, while Ethereum spot ETFs recorded about $500 million in outflows.
4. In major legal news, the victims of the Oct. 7, 2023 attacks filed suit against Binance’s founder and the exchange itself, alleging over $1 billion in illicit crypto transfers tied to terror funding.
5. On the accumulation front: BitMine Immersion Technologies added nearly 70,000 ETH last week, now controlling around 3 % of the total Ethereum supply.
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📌 What to watch for:
Will the market hold above the $87K Bitcoin level, or test lower supports again?
Will the outflows from spot ETFs signal shifting institutional sentiment?
How will regulatory and legal developments (like the Binance lawsuit) influence broader market confidence?
Are major accumulators like BitMine signalling a longer-term bullish tilt?