Ethereum price holds at $2,340 today

• The $2,310 average on-chain cost basis is close to Ethereum’s current price, with the 200-day EMA and the cost basis for wallets holding 1K-10K ETH also converging around this level.
• Net outflows from US spot ETH ETFs reached $1.26 billion for October through Monday, approaching the monthly record of $1.42 billion recorded in November 2025.
• Failure to retain the 200-day EMA could leave ETH looking for support at $2,256.

Three Ethereum (ETH) measures are clustered within about $18: the realised price of $2,310, the 200-day Exponential Moving Average (EMA) of $2,315 and the $2,328 average cost basis for wallets holding 1K-10K ETH. Following last week’s fall, ETH was little changed on Tuesday, consolidating at $2,340, just above $2,300. This convergence has drawn traders’ attention to the area, where a decisive break could prove significant.

ETH trades near its $2,310 average on-chain cost basis

CryptoQuant puts ETH’s Realised Price, which represents its average on-chain cost basis, at $2,310. Historically a source of support in downtrends, this level has seen ETH rebound nearby on several occasions over the past three days.

Buying around the average cost basis may be a way for investors to prevent their holdings from slipping into a loss. However, a prolonged fall below the realised price could intensify selling as holders exit near break-even to limit losses. Our earlier assessment of ETH’s $2,400 support examines how this level has held.

CryptoQuant data also places the average cost basis for wallets holding 1K-10K ETH at $2,328, within the $2,300 area. Historically sensitive to price movements, this group has accumulated during uptrends and distributed its holdings during declines. Its holdings rose by 40K ETH over the past week, while those of large holders have remained stable.

ETH ETF outflows approach a monthly record

Withdrawals from US spot ETH exchange-traded funds (ETFs) remain a drag on the market. According to SoSoValue data, investors pulled out $88.5 million on Monday, 26 October, following net outflows of $220.6 million over 19-23 October.

October’s net outflows stood at $1.26 billion through Monday, making it the second-largest monthly withdrawal since the funds’ launch. Only November 2025, at $1.42 billion, recorded a higher total. A further outflow of about $160 million before month-end would put October at the top of the record.

By comparison, US spot BTC ETFs attracted $110.3 million in net inflows on Monday, leaving net outflows for the month so far at $202 million. This suggests that ETH ETFs have suffered roughly 6x the outflows of BTC ETFs, despite Ethereum’s smaller market capitalisation relative to Bitcoin.

Ethereum technical outlook: ETH retests the 200-day EMA

Coinglass data shows $35 million in ETH futures liquidations over the past 24 hours, of which short positions accounted for $27 million. Short liquidations therefore dominated even as ETH’s price remained steady.

Having held the 200-day EMA on Monday, the leading altcoin is once again testing it near $2,315. Should the daily close fall below this average, attention could turn to support at $2,256, $2,204 and $1,971.

Resistance lies at $2,355, followed by the 100-day EMA at $2,362, an average that provided support earlier this month. Beyond those levels sit horizontal resistance at $2,411 and the 20-day and 50-day EMAs at $2,429 and $2,453, respectively. To temper the bearish outlook and clear a path towards $2,548 and $2,636, ETH would need a daily close above this resistance cluster.

With the 14-day Relative Strength Index (RSI) at 33 and the Stochastic Oscillator (Stoch) at 16, both indicators are close to oversold territory. These readings could curb further losses rather than prompt an immediate reversal.

(The technical analysis of this story was written with the help of an AI tool. Know more.)