Ethereum traded at $2,268.80 in the early hours of November 1, sitting below its 7-, 20-, and 50-day moving averages while Binance futures open interest contracted 1.32% over 24 hours. A Bollinger ...
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Ethereum opened November in an uncomfortable spot. At $2,268.80, the asset is trading beneath every short-term moving average on the daily chart: the 7-day SMA sits at $2,293.96, the 20-day at $2,372.62, and the 50-day at $2,517.10. That stacked resistance overhead means any recovery attempt must first negotiate a progressively thickening ceiling of rolling cost-basis. The one structural anchor holding the picture together is the 200-day SMA at $2,158.96, which currently sits roughly $110 below spot — a margin that is meaningful but not unlimited.
The 24-hour range of $2,238.57 to $2,276.31, against a Binance spot volume of approximately $140.9 million, reflects a quiet session rather than an active one. The 1.03% daily gain is real, but it has not yet closed the gap to any of the short-term averages, leaving the broader trend structure intact to the downside.
78 places Ethereum close to — but not yet at — the conventional oversold threshold of 30. On its own that is not a buy signal; RSI can remain depressed for extended periods during sustained downtrends. The more telling data point is the MACD configuration. 4250, producing a histogram value of exactly zero. That convergence means the gap between the two lines has collapsed to nothing: bearish momentum has stopped accelerating.
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