Ethereum price today: Can ETH hold at $2,340?

• A convergence of key levels is in focus as Ethereum trades near its average on-chain cost basis of $2,310, which overlaps with the 200-day EMA and the cost basis of wallets holding 1K-10K ETH.
• Outflows from US spot ETH ETFs are approaching a monthly record, with October’s net withdrawals through Monday reaching $1.26 billion against the $1.42 billion peak recorded in November 2025.
• Failure to retain the 200-day EMA could leave ETH looking for support at $2,256.

A cluster of closely aligned price measures is drawing traders’ attention as Ethereum (ETH) stabilised on Tuesday at $2,340, just above $2,300, following last week’s fall. Within roughly $18 of one another are ETH’s realised price of $2,310, its 200-day Exponential Moving Average (EMA) of $2,315 and the $2,328 average cost basis for wallets holding 1K-10K ETH. This convergence explains the focus on the zone and the potential significance of a decisive move through it.

Can ETH’s $2,310 average on-chain cost basis provide support?

ETH has rebounded near its Realised Price several times in the past three days. CryptoQuant puts this measure, the average on-chain cost basis, at $2,310, a level that has historically provided support during downtrends.

Buying near the average cost basis may help investors prevent their holdings from slipping into losses. However, a sustained 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 offers more detail on how this level has held.

Another measure within the $2,300 zone is the $2,328 average cost basis for wallets holding 1K-10K ETH, according to CryptoQuant. Historically sensitive to price movements, this group has accumulated during uptrends and distributed during declines. Its holdings rose by 40K ETH over the past week, while large holders also maintained their positions.

Are ETH ETFs heading for record monthly outflows?

Pressure on the market persists from US spot ETH exchange-traded funds (ETFs). SoSoValue data show that investors pulled out $88.5 million on Monday, October 26, following net withdrawals of $220.6 million during October 19-23.

Through Monday, October’s net outflows from these funds totalled $1.26 billion, the second-highest monthly figure since their launch. Only November 2025, at $1.42 billion, recorded a larger outflow. Further withdrawals of about $160 million before month-end would put October at the top of the list.

By comparison, US spot BTC ETFs attracted net inflows of $110.3 million on Monday, while their net outflows for the month so far stood at $202 million. The figures imply that ETH ETFs have shed roughly 6x more than BTC ETFs, despite Ethereum’s smaller market cap relative to Bitcoin.

Ethereum technical outlook: Can ETH defend the 200-day EMA?

Short positions accounted for $27 million of the $35 million in ETH futures liquidations over the past 24 hours, Coinglass data show. They made up the bulk of liquidations even as ETH remained steady.

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

Resistance on the upside lies at $2,355, followed by the 100-day EMA at $2,362, which served as support earlier this month. Beyond these, the $2,411 horizontal level precedes the 20-day EMA at $2,429 and the 50-day EMA at $2,453. To soften the bearish bias and clear a path towards $2,548 and $2,636, ETH would need a daily close above this 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 temper further declines rather than prompt an immediate reversal.

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