{"id":31511,"date":"2026-10-29T19:03:27","date_gmt":"2026-10-29T19:03:27","guid":{"rendered":"https:\/\/moneyinsiderzone.com\/?p=31511"},"modified":"2026-10-29T19:03:27","modified_gmt":"2026-10-29T19:03:27","slug":"ethereum-tops-2340-as-key-support-converges-and-etf-outflows-mount","status":"publish","type":"post","link":"https:\/\/moneyinsiderzone.com\/?p=31511","title":{"rendered":"Ethereum tops $2,340 as key support converges and ETF outflows mount"},"content":{"rendered":"
<\/div>\n

Ethereum has surged past $2,340 on Wednesday, consolidating after last week\u2019s decline as buyers defended an area where several important indicators converge.<\/p>\n

ETH\u2019s realized price stands at $2,310, its 200-day Exponential Moving Average sits near $2,315, and wallets holding between 1,000 and 10,000 ETH have an average cost basis of $2,328.<\/p>\n

Those measures fall within an $18 range, making the area particularly relevant to the near-term outlook. Holding above it would preserve a potential base for recovery, while a sustained breakdown would weaken that support structure.<\/p>\n

Onchain cost basis provides a test for buyers<\/h2>\n

CryptoQuant places Ethereum\u2019s realized price<\/a>\u2014an estimate of the market\u2019s average onchain acquisition cost\u2014at $2,310.<\/p>\n

The level has historically provided support during downturns, and ETH has rebounded near it several times over the past three days.<\/p>\n

A sustained decline beneath realized price could increase pressure on holders as the market moves below its aggregate onchain cost basis. <\/p>\n

However, the indicator does not guarantee either buying support or accelerated selling.<\/p>\n

Nearby, the $2,328 average cost basis of wallets holding 1,000\u201310,000 ETH adds another reference point. <\/p>\n

This cohort increased its holdings by 40,000 ETH over the past week, while larger holders remained broadly steady, according to the CryptoQuant data.<\/p>\n

The accumulation offers a supportive signal despite continued weakness elsewhere in the market.<\/p>\n

US spot Ethereum ETFs recorded $88.5 million in net withdrawals on Monday, followed by another $60.22 million on Tuesday<\/a>.\u00a0<\/p>\n

The withdrawals follow $220.6 million in outflows during October 19\u201323, according to SoSoValue.<\/p>\n

October\u2019s cumulative withdrawals reached $1.26 billion through Monday. That makes it the second-largest monthly outflow since the products launched, behind November 2025\u2019s $1.42 billion.<\/p>\n

Approximately $160 million in additional net withdrawals would bring October level with that record; a larger amount would surpass it.<\/p>\n

Bitcoin ETFs have experienced considerably smaller net withdrawals this month. They recorded $110.3 million in inflows on Monday, leaving October\u2019s net outflows at approximately $202 million.<\/p>\n

In dollar terms, Ethereum ETF withdrawals were therefore roughly six times Bitcoin\u2019s monthly total, highlighting the heavier redemption pressure on ETH-linked products.<\/p>\n

Ethereum technical forecast: ETH faces resistance above $2,440<\/h2>\n

Ethereum has surged past its 200-day EMA near $2,315 after holding that level earlier this week. <\/p>\n

However, a daily close below the average would weaken the technical picture and bring support at $2,256 into focus. Further downside levels sit at $2,204 and $1,971.<\/p>\n

For buyers, the first recovery obstacle is the 100-day EMA at $2,362. A decisive daily candle close above this level could see ETH face resistance at $2,444, followed by the 50-day EMA at $2,453.<\/p>\n

A daily close above that broader resistance cluster would help ease the bearish tone and could open a path toward $2,548 and $2,636.<\/p>\n

<\/figure>\n

The 14-day Relative Strength Index stands at 38, close to the conventional oversold threshold, while the Stochastic Oscillator reads 27.<\/p>\n

These readings suggest downside momentum may be stretched, but they do not establish that a reversal has begun.<\/p>\n

CoinGlass data also showed $40 million in ETH futures liquidations<\/a> over the preceding 24 hours, including $34 million in short positions.<\/p>\n

For now, defending the $2,310\u2013$2,328 zone and reclaiming nearby resistance remain the key technical tests as ETF redemptions continue.<\/p>\n

The post Ethereum tops $2,340 as key support converges and ETF outflows mount<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum has surged past $2,340 on Wednesday, consolidating after last week\u2019s decline as buyers defended an area where several important indicators converge. ETH\u2019s realized price stands at $2,310, its 200-day Exponential Moving Average sits near $2,315, and wallets holding between 1,000 and 10,000 ETH have an average cost basis of $2,328. Those measures fall within […]<\/p>\n","protected":false},"author":1,"featured_media":31512,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-31511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts\/31511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31511"}],"version-history":[{"count":0,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts\/31511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/media\/31512"}],"wp:attachment":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}