Fundamental approach
- ETH prices slipped this week amid a broad crypto pullback following a weekend wave of leveraged liquidations and profit-taking, even as prior spot ETF inflows and easing Fed policy supported risk appetite earlier in the week. Sentiment was volatile as traders digested mixed ETF flow signals and macro easing after the Fed's rate cut.
- The main impacting factors included a reported $1.5B in crypto long liquidations, which are pressuring majors. ETH prices posted their weakest two-day stretch since late Aug as risk unwound into Monday's session. Offsetting factors were mid-Sep net inflows into US spot ETH ETFs, led by BlackRock's product, and growing anticipation for Dec's Fusaka upgrade aimed at scaling Layer 2 data capacity.
- In the near term, ETH could stabilize if ETF flows remain favorable and macro conditions stay supportive; however, further deleveraging and data-sensitive risk sentiment could keep swings elevated. Upcoming catalysts include continued daily ETF flow prints, developer communications around the Fusaka timeline, and features that may influence medium-term adoption.
Technical approach:
- ETHUSD is forming a lower high and lower low pattern within the defined range of 4080-4756. The price is awaiting a clear breakout to determine the upcoming trend.
- If ETHUSD breaks below the support at 4080, EMA78, and the descending channel's lower bound, the price may retest the following support at 3384.
- On the contrary, closing above 4260 may help ETH prices gain momentum to retest the descending channel's upper bound.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- ETH prices slipped this week amid a broad crypto pullback following a weekend wave of leveraged liquidations and profit-taking, even as prior spot ETF inflows and easing Fed policy supported risk appetite earlier in the week. Sentiment was volatile as traders digested mixed ETF flow signals and macro easing after the Fed's rate cut.
- The main impacting factors included a reported $1.5B in crypto long liquidations, which are pressuring majors. ETH prices posted their weakest two-day stretch since late Aug as risk unwound into Monday's session. Offsetting factors were mid-Sep net inflows into US spot ETH ETFs, led by BlackRock's product, and growing anticipation for Dec's Fusaka upgrade aimed at scaling Layer 2 data capacity.
- In the near term, ETH could stabilize if ETF flows remain favorable and macro conditions stay supportive; however, further deleveraging and data-sensitive risk sentiment could keep swings elevated. Upcoming catalysts include continued daily ETF flow prints, developer communications around the Fusaka timeline, and features that may influence medium-term adoption.
Technical approach:
- ETHUSD is forming a lower high and lower low pattern within the defined range of 4080-4756. The price is awaiting a clear breakout to determine the upcoming trend.
- If ETHUSD breaks below the support at 4080, EMA78, and the descending channel's lower bound, the price may retest the following support at 3384.
- On the contrary, closing above 4260 may help ETH prices gain momentum to retest the descending channel's upper bound.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.