Ether fell, then rebounded late as activity recovered and the trading range narrowed, leaving nearby checkpoints in the spotlight.
Context
Shares fell as the S&P 500 closed down 0.99% at 6,822.34 and the Nasdaq Composite lost 1.57% at 23,581.14. The VIX rose to 17.22, up 1.77% on the day.
The macroeconomic tone also remained cautious after Federal Reserve Chair Jerome Powell said at his Oct. 29 FOMC press conference that a December rate cut was not assured.
The US Dollar Index (DXY) rose to 99.52 on October 30 from 98.57 on October 28, while talks between the United States and China remained without a trade deal despite President Donald Trump’s upbeat comments regarding meeting with Chinese President Xi Jinping.
Ethereum core developers scheduled the Fusaka upgrade for December 3 following the network’s biweekly coordination call on October 30.
Technical Analysis Highlights
The following is based on CoinDesk Research’s technical analysis data model.
- Move vs market: Ether’s pullback from the $3,921 area followed a broader crypto decline, with institutional flows turning negative at resistance.
- Route and scope: The session drew a bearish structure, falling from $3,921.43 to $3,731.00 for a range of $230.31 (about 5.9%).
- Place of decomposition: The decisive downward push came when $3,880 gave way, along with a peak of 443,415, about 103% above the 24-hour norm.
- Late rebound: From $3,731, ether rose 1.35% to $3,771.82 and again surpassed $3,760, which had capped previous attempts.
- Stake: Session volume was 32% above the seven-day average.
What the patterns suggest
- Break down and then test: The loss of $3,880 confirms that sellers were active at that ceiling; The recovery to $3,760 is the first sign that buyers have pulled back.
- Range behavior: With lower highs and a higher low of $3,731, the model points to trading in a range between $3,730 and $3,880 in the short term.
- Rebound tone: The recovery came on the back of moderate flows, which looks more like measured buying than a brief contraction.
Support and Resistance Map
- Primary resistance: From $3,840 to $3,880 (post-collapse band).
- Secondary resistance: $3,760, now claimed and a nearby checkpoint.
- Critical Support: $3,731 (session low).
- Main support confluence: $3,700 to $3,720.
Volume image
- In general: +32% compared to the seven-day average.
- Top: 443,415 on the breakdown of $3,880 (about 103% above the 24-hour norm).
- On the rebound: Moderate flows indicate measured demand, not broad capitulation or contraction.
Objectives and risk framework
- If buyers press: A move above $3,840 opens a run towards $3,880, then $3,920.
- If the sellers regain control: A failure at $3,760 leaves $3,700 exposed, with $3,650 as the next risk zone.
- Tactical conclusion: With participation high and the $3,730-$3,880 band well defined, many traders are waiting for a clear breakout or decisive recovery before leaning further in either direction.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
