Ether slipped, then rebounded late as activity resumed and the trading range tightened, leaving nearby checkpoints in focus.
Context
Stocks fell as the S&P 500 closed down 0.99% at 6,822.34 and the Nasdaq Composite lost 1.57% to 23,581.14. The VIX stood at 17.22, up 1.77% on the day.
The macroeconomic tone also remained cautious after Fed Chair Jerome Powell said at his Oct. 29 FOMC news conference that a December rate cut was not assured.
The US Dollar Index (DXY) climbed to 99.52 on October 30 from 98.57 on October 28, as negotiations between the United States and China remained without a trade deal despite President Donald Trump’s upbeat comments regarding his meeting with Chinese President Xi Jinping.
Ethereum’s core developers have scheduled the Fusaka upgrade for December 3 following the network’s bi-weekly coordination call on October 30.
Technical Analysis Highlights
The following is based on CoinDesk Research’s technical analysis data model.
- Travel vs. market: Ether’s pullback from the $3,921 area followed a broader crypto decline, with institutional flows turning negative at resistance.
- Path and scope: The session followed a bearish structure, dropping from $3,921.43 to $3,731.00 for a range of $230.31 (around 5.9%).
- Failure location: The decisive push lower occurred when $3,880 gave way, alongside a peak of 443,415 draws, approximately 103% above the 24-hour norm.
- Late rebound: From $3,731, ether climbed 1.35% to $3,771.82 and moved back above $3,760, which had capped previous attempts.
- Participation: Session volume was 32% higher than the seven-day average.
What the models suggest
- Troubleshooting, then testing: The loss of $3,880 confirms that the sellers were active at this ceiling; fetching $3,760 is the first sign that buyers are being pushed back.
- Beach behavior: With a lower overhead and a higher low at $3,731, the model signals trading in a range between $3,730 and $3,880 in the near term.
- Bounce Tone: The recovery has occurred thanks to moderate flows, which resembles measured buying rather than short-term tightening.
Support and resistance map
- Primary resistance: $3,840 to $3,880 (post-failure band).
- Secondary resistance: $3,760, now recovered and checkpoint nearby.
- Critical support: $3,731 (low session).
- Major confluence of supports: $3,700 to $3,720.
Volumetric image
- Overall: +32% compared to the seven-day average.
- Culminate: 443,415 on the distribution of $3,880 (approximately 103% compared to the 24 hour standard).
- On the rebound: Moderate flows indicate measured demand, not widespread capitulation or tightening.
Objectives and risk framing
- If buyers press: A move above $3,840 opens a run to $3,880 and then $3,920.
- If sellers regain control: A failure at $3,760 leaves $3,700 exposed, with $3,650 as the next risk zone.
- Tactical takeaway: With high stakes and a well-defined $3,730 to $3,880 range, many traders are waiting for a sharp breakout or decisive recovery before leaning harder one way or the other.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
