ETH trades near $2,360, on its $2,358 floor. A floor is a price where falls have stopped before.
The price is down about 12% over the past 30 days. The slide has carried ETH back to a level with a long record. It is now testing that floor once more.
The $2,358 Floor Has Turned ETH 10 Times
The $2,358 floor has turned the price 10 times since early November 2024. It sits right at the price now.
The last turn came on 15 September.
ETH is not approaching this level from a distance. It is sitting on it, so each day of trading now tests it.
The price sits right on its $2,358 floor. Source: Binance ETH/USDT daily prices, to the 24 October daily close, computed by www.altcoinbuzz.io.
Trading Thinned Out as ETH Slipped on 24 October
ETH was down about 1.2% on 24 October. That slip brought it onto the floor.
Trading volume is the total value bought and sold. It came to $467 million on 24 October.
That was about a quarter below its 20-day average. Fewer dollars changed hands than on a typical recent day.
So what would settle the test?
ETH Between Its $2,358 Floor and $2,444 Ceiling
A daily close is the last price of the day. The 24 October daily close was the lowest in 30 days.
The nearest ceiling sits at $2,444, about 3% above. A ceiling is a price where rises have stopped before.
A daily close above $2,444 would put ETH back over that ceiling. The next ceiling sits at $2,563, about 8% above.
A daily close below $2,358 would put the price under this floor. The next floor sits at $2,282, about 3% below.
A daily close below $2,358 or above $2,444 would settle the test. Source: Binance ETH/USDT daily prices, to the 24 October daily close, computed by www.altcoinbuzz.io.
For now, ETH sits between $2,358 below and $2,444 above. A daily close beyond either one would settle this test.
