Ethereum Elliott Wave analysis for 10 October 2026: Ethereum pulled back into the $2,400 to $2,450 support cluster, where the April swing high and the yellow trend line meet, and the decline so far is only 3 waves.
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Ethereum (ETH) Price News & Insights Today 10-10-2026 - Technical analysis, focusing on market structure, key support and resistance zones. Video by More Crypto Online.
We look at why one more high in wave 5 remains the primary scenario, which micro resistance needs to break to signal a low, and what would make the larger $1,724 to $2,206 support box more likely. As long as the $2,428 to $2,474 micro support holds, higher prices are possible in the short term, and a break above $2,582 would be the first sign of a meaningful low. A break below the lower channel line with a weak, corrective bounce would make the main support box more likely.
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Ethereum Insights Today
• ETF Redemption Streak: Spot Ethereum ETFs recorded a $56.1 million net outflow, marking their ninth consecutive day of withdrawals. BlackRock's ETHA led these redemptions, contrasting sharply with positive inflows into Bitcoin vehicles.
• Macro Environment Headwinds: Broader risk-asset sentiment remains pressured by surging oil prices (Brent crude over $105/barrel) and a strong U.S. Dollar Index (102.4).
• Supply Shock Signals: Despite the price drop, exchange data highlights that ETH reserves on Binance plummeted to a six-month low following a massive 320,000 ETH withdrawal earlier this week. This indicates that whale investors are heavily moving assets into self-custody or staking, reducing liquid sell-side pressure.
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