$2,340: Ethereum’s price today

• $2,310 is Ethereum’s average on-chain cost basis. The price is trading near this level, where the 200-day EMA and the cost basis of wallets holding 1K-10K ETH also converge.
• $1.26 billion has flowed out of US spot ETH ETFs on a net basis in October through Monday, approaching the monthly record of $1.42 billion reached in November 2025.
• $2,256 could provide support for ETH should the 200-day EMA give way.

$2,340 was Ethereum’s (ETH) consolidation level on Tuesday. The price remained stable just above $2,300 following last week’s fall. Within a range of about $18 sit three indicators: the $2,310 realised price, the 200-day Exponential Moving Average (EMA) at $2,315 and the $2,328 average cost basis for wallets holding 1K-10K ETH. This convergence has drawn traders’ attention to the area, where a decisive break could prove significant.

$2,310: ETH’s average on-chain cost basis

CryptoQuant puts ETH’s Realised Price, its average on-chain cost basis, at $2,310. During past downtrends, this measure has provided support. Several rebounds over the past three days have also occurred near it.

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

Within the $2,300 area, CryptoQuant also places the average cost basis of wallets holding 1K-10K ETH at $2,328. Historically sensitive to price moves, these wallets have accumulated during rising trends and distributed during declines. Their holdings grew by 40K ETH over the past week, while large holders also maintained their positions.

$1.26 billion in ETH ETF outflows approaches monthly record

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

October’s net outflows reached $1.26 billion through Monday, ranking second among monthly totals since the funds launched. Only November 2025, at $1.42 billion, saw larger withdrawals. Further outflows of about $160 million before month-end would put October at a record high.

By comparison, US spot BTC ETFs attracted net inflows of $110.3 million on Monday, while net outflows for the month so far stood at $202 million. This suggests net withdrawals from ETH ETFs are roughly 6x those from BTC ETFs, despite Ethereum’s smaller market capitalisation relative to Bitcoin.

200-day EMA under test: Ethereum technical outlook

Coinglass data show $35 million in ETH futures liquidations during the past 24 hours. Short positions accounted for $27 million, leading liquidations even as ETH’s price remained stable that day.

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

Resistance lies at $2,355, followed by the 100-day EMA at $2,362, a level that provided support earlier this month. Beyond these, ETH faces the horizontal level of $2,411, then the 20-day EMA at $2,429 and the 50-day EMA at $2,453. To moderate the bearish bias and clear a path towards $2,548 and $2,636, ETH would need a daily close above this cluster.

At 33 and 16 respectively, the 14-day Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) sit near oversold territory. These readings could temper further declines rather than produce an immediate reversal.

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