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ETH 
SOL ETH price forecast: $2,600 becomes a key breakthrough level
On October 11, Ethereum (ETH) traded around $2,500, after a week of high volatility in the cryptocurrency market. The rally follows a broader wave of cryptocurrency selling that sent Bitcoin falling to around $81,000 and Solana close to $110, highlighting the continued pressure on major digital assets.
In an analysis by market commentator Petar Jovanović on October 11, he pointed out that $2,550-$2,600 is the most important resistance area for Ethereum in the near future. Recovering this range would strengthen ETH's technical structure and potentially open the door to $2,650-$2,700.
As early as early as early October, Ethereum once stood above $2,700, but as selling pressure accelerated, the price fell below $2,600 and eventually dropped to $2,405. Buying then defended in the low area, pushing prices back to the psychologically important $2,500 level.
However, technical momentum remains fragile. Although short-term relative strength indicators have improved and the MACD histogram has reportedly turned positive, signs of weakening in the histogram suggest that buying momentum may be fading.
Outflows of funds from Ethereum ETF complicate recovery prospects
This technical uncertainty arises during a period of sluggish institutional demand for cryptocurrencies. Data showed that the US spot Ethereum ETF recorded a net outflow of approximately US$201.9 million on October 6, while the Bitcoin ETF recorded a net inflow of US$118.8 million during the same period.
This divergence in capital flows suggests that investors have become more cautious about their exposure to crypto assets. Continued net outflows may make it difficult for ETH to maintain its recovery without support from stronger spot market demand.
Derivatives positions pose another potential risk. During the recent price decline, approximately $165 million in leveraged long Ethereum positions were liquidated, demonstrating how quickly price declines triggered additional forced liquidations.
Ethereum's underlying supply dynamics provide evidence to refute bearish views
Ethereum's underlying supply dynamics provide counter-evidence to bearish views. More than one-third of Ethereum has been pledged, and although pledge rewards and reductions in exchange balances do not necessarily translate into higher market prices, this still shows a trend towards long-term holding.
