This Ethereum price looks at a rough week. The coin is down more than 7% in the past seven days. Spot ETH ETFs just had their worst week since January. Still, the chart and a few data points
This Ethereum price looks at a rough week. The coin is down more than 7% in the past seven days.
Spot ETH ETFs just had their worst week since January. Still, the chart and a few data points give buyers something to hold onto.
ETH price today sits near $2,496, down 0.26% in 24 hours. The last daily candle on Binance closed near $2,497.
Trading volume also dropped. It fell 63% to $6.89 billion, per CoinMarketCap. Lower volume often means fewer traders are placing big bets.
Metric
Latest Data
ETH price
$2,496
24-hour change
-0.26%
7-day change
More than -7%
24-hour trading volume
$6.89 billion (down 63%)
Daily RSI (14)
40.12
Weekly ETF flows
-$542.07 million
Weak ETF demand is the main story. SoSoValue data shows spot ETH ETFs lost $542.07 million in the week ended October 9.
That is the biggest weekly outflow since late January 2026.
BlackRock's ETHA fund led the exits with $477 million. It was ETHA's largest weekly outflow since December 2025.
Farside data also showed a sixth straight day of ETH fund outflows on October 6. Bitcoin funds took in money on the same day.
From October 4 to October 8, ETH fell about 10%. BTC fell about 6%.
Santiment data says ETH on exchanges rose by over 100,000 ETH, nearly 2%, between October 4 and October 8.
BTC on exchanges fell by about 15,000 BTC in the same window. In plain words, bitcoin was leaving exchanges while ether was heading back.
Coins moving to exchanges can mean some holders are ready to sell. It is not proof, though. People move coins for many reasons.
Not all Ethereum news today is negative. Arkham reports that Grayscale's Mini ETH fund bought $103.3 million of ETH over the past 20 days.
Its older ETHE fund saw $71.6 million in outflows over the same period. That looks like a rotation from the old fund into the Mini fund.
Grayscale clients net bought $31.7 million of ETH. So not every large holder is leaving. Some are just switching products.
On the daily chart, ETH is retesting the lower edge of a rising channel. That line sits roughly near $2,400.
Price reclaimed this area recently. Buyers now need to defend it to keep the bullish structure alive.
RSI is at 40.12, close to a four-month low. That points to weak momentum.
Some chart watchers say ETH is repeating a range pattern that broke higher three times before. Past patterns do not guarantee the same result, though.
The chart circles five turning points. All numbers below are rough readings from the chart.
Date on Chart
Approx. Level
Type
Mid-2022
About $900
Cycle low
March 2024
About $4,100
Local high
April 2025
About $1,400
Cycle low
August 2025
About $5,000
Cycle high
June 2026
About $1,500
Low on long-term support
The low points all touch the same rising support line. The highs stall near the top line around $5,000.
Here are the main levels traders are watching right now.
Level
Type
What It Means
About $2,400
Channel support
Lower channel line under retest
$2,800 to $3,000
Resistance
First area in focus if the retest holds
$1,600 to $1,000
Major support
Long-term historical support zone
$4,500 to $5,000
Resistance
Previous cycle high area
If the channel holds, $2,800 to $3,000 comes back into view. If it breaks, the next big support sits much lower, in the $1,600 to $1,000 zone.
Nothing here is certain.
One popular view calls the long-term channel a macro Elliott Wave setup. It points to a possible fifth-wave move higher.
The targets in that view are $14,000 for a wave 3 extension and $50,000 for a macro wave 5.
These are far-off ideas, not forecasts anyone can count on. ETH's last cycle high was near $5,000, and it trades near $2,496 today.
This article is for information only and is not financial advice. Crypto prices swing fast, and you can lose money. Price targets and chart patterns are opinions, not promises. Do your own research and talk to a licensed financial adviser before you invest.
