$ETH is setting up for a reclaim of $2,300 — my call: YES. ⚡
The numbers: ETH bounced back to ~$2,268 today (Nov 1), up ~1% in 24h and outpacing BTC's 0.5% gain. It's holding above the $2,250 support everyone's watching, with a record 43.8M ETH staked (35.9% of supply) as a floor under any selloff. RSI sits at 33.8 — near oversold — and the Binance hack recovery (withdrawals resumed today across 15 networks, 95% of the $6.3B replenished) is draining the fear out of the market.
My read: the post-hack bounce has fuel left. ETH fell 17.7% in 30 days to Oct 30's $2,173 low; a short squeeze toward $2,300 is the natural next step with shorts piling up (funding rates confirm rising short positioning) while spot demand quietly returns. Crypto analyst Michaël van de Poppe flagged this zone as a potential buying area.
The risk: $1B in October ETF outflows (23 straight weeks) and $431M more this week — institutions are still heading for the exit. If risk-off returns around the midterms/jobs report, ETH breaks the $2,223 support and the reclaim thesis dies.
My invalidation: a daily close below $2,223.
ETH above $2,300 by Friday — YES or NO? 👇
$ETH #BinancePick #Ethereum #ETH
The numbers: ETH bounced back to ~$2,268 today (Nov 1), up ~1% in 24h and outpacing BTC's 0.5% gain. It's holding above the $2,250 support everyone's watching, with a record 43.8M ETH staked (35.9% of supply) as a floor under any selloff. RSI sits at 33.8 — near oversold — and the Binance hack recovery (withdrawals resumed today across 15 networks, 95% of the $6.3B replenished) is draining the fear out of the market.
My read: the post-hack bounce has fuel left. ETH fell 17.7% in 30 days to Oct 30's $2,173 low; a short squeeze toward $2,300 is the natural next step with shorts piling up (funding rates confirm rising short positioning) while spot demand quietly returns. Crypto analyst Michaël van de Poppe flagged this zone as a potential buying area.
The risk: $1B in October ETF outflows (23 straight weeks) and $431M more this week — institutions are still heading for the exit. If risk-off returns around the midterms/jobs report, ETH breaks the $2,223 support and the reclaim thesis dies.
My invalidation: a daily close below $2,223.
ETH above $2,300 by Friday — YES or NO? 👇
$ETH #BinancePick #Ethereum #ETH
