Black Box

Ethereum

<p><strong>Ether</strong><a href="https://yellow.com/asset/eth" rel="noopener noreferrer nofollow">(ETH)</a> fell to about $2,360 on Sunday, testing key support after sliding from a $2,726 peak on Oct. 5 as investors kept pulling cash from U.S. exchange-traded funds.</p>
<blockquote>
 <h2 id="key-points">Key Points:</h2>
 <ul>
  <li>Ether slid to about $2,360 on Sunday, down from a $2,726 peak on Oct. 5.</li>
  <li>U.S. spot Ether funds lost a net $954.8 million from Oct. 1 to Oct. 16.</li>
  <li>Analysts say a daily close below $2,360 could open a path toward $2,200.</li>
 </ul>
</blockquote>
<h2 id="ethereum-price-breakdown">Ethereum Price Breakdown</h2>
<p>Ether <a href="https://www.coindesk.com/price/ethereum" rel="noopener noreferrer nofollow">traded</a> near $2,364 on Sunday afternoon, down about 1.6% over 24 hours, as the second-largest cryptocurrency drifted into a demand zone between $2,360 and $2,440. Daily charts <a href="https://cryptopotato.com/ethereum-price-prediction-is-eths-7-weekly-drop-just-the-start/" rel="noopener noreferrer nofollow">show</a> that zone lining up with the lower edge of a broader rising channel, but a string of lower highs suggests sellers remain in control. The token <a href="https://en.coin-turk.com/ethereum-developers-to-boost-hoodi-testnet-gas-limit-to-200-million-on-october-26/" rel="noopener noreferrer nofollow">peaked</a> near $2,726 on Oct. 5.</p>
<p>Fund flows have offered little relief.</p>
<p>Investors <a href="https://www.aol.com/articles/ethereum-solana-etfs-keep-losing-153025000.html" rel="noopener noreferrer nofollow">withdrew</a> a net $954.8 million from U.S. spot Ether funds between Oct. 1 and Oct. 16, with only one session, Oct. 13, posting an inflow of $24.8 million. <strong>BlackRock</strong>'s iShares Ethereum Trust absorbed the full $69.7 million outflow on Oct. 16 and <a href="https://coinpaper.com/37439/ethereum-price-prediction-blackrock-records-2595-million-in-three-day-etf-withdrawals" rel="noopener noreferrer nofollow">accounted</a> for $223.9 million of the $259.5 million that left over the final three sessions. That left the funds with $14.95 billion in net assets.</p>
<p><strong>Also Read:</strong><a href="https://yellow.com/news/no-preorder-iphone-duo-apple-stores" rel="noopener noreferrer nofollow">No Preorder, No iPhone Duo? Apple Reportedly Braces Its Stores For Oct. 23</a></p>
<h2 id="eth-analyst-targets">ETH Analyst Targets</h2>
<p>Chart analysts say buyers must reclaim $2,440 and then clear resistance between $2,500 and $2,560 before any rebound toward the $2,670 to $2,740 area looks credible. A daily close below $2,360 would weaken that structure and raise the odds of a slide toward $2,200, where liquidation data shows a dense cluster of potential long liquidations.</p>
<p>Analyst <strong>Alejandro Arrieche</strong> took a more upbeat view in an Oct. 16 forecast, calling $2,400 an important floor and saying Ether could retest $2,800 if buying momentum improves. He said a break above $2,600 would confirm the recovery. Macro investor <strong>Jordi Visser</strong> said on a podcast this month that Ether, along with <strong>Bitcoin</strong><a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a>, has held up as one of the sturdier parts of the crypto market.</p>
<h2 id="october-swings">October Swings</h2>
<p>Developers are preparing to roll Ethereum's Glamsterdam upgrade, which aims to lift block capacity toward a 200 million gas limit, onto a second test network later this month after its Oct. 6 debut. Analysts warn that more capacity does not guarantee a higher price.</p>
<p>The latest drop caps a choppy month for Ether, which fell to about $2,313 on Oct. 15 before closing near $2,439, then dipped to roughly $2,391 the following day. Buyers have defended the $2,360 area several times since, but rebounds keep fading. The token is down 18.4% so far this year, even after a 29.3% gain over the past 90 days, based on data through Oct. 17.</p>
<p><strong>Read Next:</strong><a href="https://yellow.com/news/ai-black-box-openai-researcher-neurons" rel="noopener noreferrer nofollow">Is AI's Black Box Cracking? Ex-OpenAI Researcher Says 90% Of Neurons Do One Job</a></p>

Ethereum Bulls Make A Stand At $2,360, But Can They Hold The Line?

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