Ethereum
Ethereum is facing renewed selling pressure, with its price trading around $2,315 on October 27. The recent decline has weakened the short-term technical structure, leaving ETH vulnerable to further losses unless buyers manage to defend the nearby support zone. The market is now approaching a critical area that could determine whether Ethereum stages a recovery or extends its correction.
The $2,295–$2,270 zone represents the nearest important support area. Holding this range could allow ETH to stabilize and attempt a rebound toward $2,345–$2,365. A sustained breakout above this resistance zone would improve the short-term outlook and potentially open the way toward $2,400–$2,430.
However, a decisive break below $2,270 could increase selling pressure and expose the $2,230–$2,200 region. If bearish momentum continues, the $2,135 area could become another important level to watch.
Momentum indicators also point to short-term weakness. The RSI is around 35, approaching oversold territory, while the MACD remains negative. These signals suggest that sellers currently have the advantage, although a rebound remains possible if buyers defend support and momentum begins to improve.
Overall, ETH's short-term outlook remains bearish unless the price reclaims the $2,345–$2,365 resistance zone. A successful defense of support could trigger a relief rally, but a breakdown below $2,270 would increase the risk of another downward move. Traders should watch for confirmation around these levels rather than assume that the current decline has reached its bottom.
