ETH traded around $2,500 on October 11, following a volatile week for cryptocurrencies. The recovery comes after a broader crypto selloff that sent Bitcoin toward $81,000 and Solana close to $110, highlighting continued pressure across major digital assets.
Ethereum Price Prediction: $2,600 Becomes Key Breakout Level
In an October 11 analysis, market commentator Petar Jovanović identified $2,550–$2,600 as Ethereum's most important near-term resistance zone. Reclaiming that range could strengthen ETH's technical structure and potentially open the door to $2,650–$2,700.
Ethereum traded above $2,700 earlier in October before selling pressure accelerated, driving prices below $2,600 and eventually toward $2,405. Buyers subsequently defended the lower region, triggering a recovery toward the psychologically important $2,500 level.
However, technical momentum remains fragile. Short-term relative strength readings have improved, while the MACD histogram reportedly turned positive, although weakening histogram bars suggest buying momentum may already be fading.
Ethereum ETF Outflows Complicate Recovery
The technical uncertainty follows a difficult period for institutional cryptocurrency demand. U.S. spot Ethereum ETFs recorded approximately $201.9 million in withdrawals on October 6, contrasting with $118.8 million in Bitcoin ETF inflows during the same session.
That divergence in ETF flows suggests investors have become more selective about cryptocurrency exposure. Persistent withdrawals could make it harder for ETH to sustain a recovery without stronger spot-market demand.
Derivatives positioning adds another potential risk. Approximately $165 million in leveraged Ethereum long positions were liquidated during the recent decline, demonstrating how quickly falling prices can trigger additional forced selling.
Ethereum's underlying supply dynamics offer a counterargument to the bearish outlook. More than one-third of ETH has been committed to staking, although staking rewards and reduced exchange balances do not automatically translate into higher market prices.