Ethereum (ETH/USD) Forecast Today Stays Under S1

Daily outlook Bearish bias Oct 29, 2026, 07:46 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Ethereum (ETH/USD) is at 2305.8 in the London session, down 2.19% on the day, with daily, four-hour and one-hour trends all down. Nearest resistance is the previous day low at 2318.92; nearest support is S2 at 2284.46.

Where Ethereum (ETH/USD) Stands in London

This Ethereum (ETH/USD) forecast today is framed for the London session at 07:40 UTC, with New York due to join at 12:00 UTC. Ethereum (ETH/USD) last sits at 2305.8 on the Ethereum (ETH/USD) live rate, down 51.53 dollars on the day, or 2.19%, from the previous close at 2357.33. The day opened at 2357.33. The day high is 2357.64 and the day low is 2294.88. Price is between S2 at 2284.46 and S1 at 2320.68.

The day range is 62.76 dollars, which is 72% of the 14-day ATR at 87.44 dollars. That is the range on the day, not a London-only range. The day low at 2294.88 is above S2 at 2284.46 and above the round number at 2300.

Trend and Momentum on Daily, H4 and H1

The daily trend is down. Price is below the 200-day EMA at 2320.05. The 20-day EMA at 2422.58 and the 50-day EMA at 2448.97 are also above the last price at 2305.8. Daily RSI is 39.

The four-hour trend is down, with the H4 20-period EMA at 2338.3 and the H4 50-period EMA at 2361.8. The one-hour trend is down, with the H1 20-period EMA at 2330.79 and the H1 50-period EMA at 2335.83. Each of those four averages is above 2305.8. Daily, four-hour and one-hour trends agree, so the stack is aligned lower rather than split.

The five-day change is down 3.3%. The twenty-day change is down 6.76%.

Levels That Frame the Last Price

Nearest resistance is the previous day low at 2318.92, 13.12 dollars away. Nearest support is S2 at 2284.46, 21.34 dollars away. S1 at 2320.68 is above the last price as well, past the previous day low at 2318.92, which is why that prior low is the nearest overhead level.

The daily pivot, as mapped in the pivot points guide, is at 2355.13. R1 is at 2391.35, R2 is at 2425.8 and R3 is at 2462.02. S1 is at 2320.68, S2 is at 2284.46 and S3 is at 2250.01. The last price is under the daily pivot and under S1, while it is still above S2 and above S3.

Yesterday's high was 2389.59 and yesterday's low was 2318.92. Yesterday's range was 70.67 dollars. Yesterday's close was 2356.89. That close is separate from the previous close at 2357.33, and only the previous close is the base for the day's 2.19% change.

The five-day high is 2389.59 and the five-day low is 2275.94. The twenty-day high is 2576.89 and the twenty-day low is 2275.94. The low on the five-day window and the low on the twenty-day window are both 2275.94, under S2 at 2284.46. The twenty-day high at 2576.89 is above R3 at 2462.02.

The round level above price is 2350, near the daily pivot at 2355.13. The round level below price is 2300.

Upside Path and Downside Path

A higher path would need a break above R1 at 2391.35, which would open the way to R2 at 2425.8, 34.45 dollars beyond that trigger. A move back below the daily pivot at 2355.13 would invalidate that bullish path. Price at 2305.8 is under the daily pivot, so the bullish trigger at R1 is not in place in this London session.

A lower path is built off S2 rather than off R1. A break below S2 at 2284.46 would open the way to S3 at 2250.01, and that span is also 34.45 dollars. A move back above the daily pivot at 2355.13 would invalidate the bearish path. The day low at 2294.88 is above S2 at 2284.46, and S3 at 2250.01 is under the twenty-day low at 2275.94.

Scheduled US Data and the Newsflow

Today at 12:30 UTC the United States has a full release slot, after New York joins at 12:00 UTC. High-impact releases are annualized gross domestic product, previous 2.2 and estimate 3.2; the gross domestic product price index, previous 6.1 and estimate 3.5; core personal consumption expenditures for the month, previous 0.2 and estimate 0.3; and core personal consumption expenditures for the year, previous 3 and estimate 3.1.

Medium-impact releases, the sort of listings covered in the economic calendar guide, fall at the same 12:30 UTC time today. Personal spending shows previous 0.9 and an estimate of 0.6. Personal income for the month shows previous 0.2 and an estimate of 0.3. The personal consumption expenditures price index for the year shows previous 3.4 and an estimate of 3.6. The same price index for the month shows previous 0.3 and an estimate of 0.5. Personal consumption expenditures prices for the quarter show previous 5 and an estimate of 3.4. Core personal consumption expenditures for the quarter show previous 3.3 and an estimate of 2.4. Initial jobless claims show previous 194 and an estimate of 199.

Tomorrow, not today, the employment cost index is scheduled for 12:30 UTC, with previous 0.9 and an estimate of 0.8.

Headlines this morning cluster around outflows from Ether products, as reported by Tokenpost and Crypto Briefing, patches to Ethereum clients, according to Crypto news and Crypto Briefing, and a VIA Labs tie between Stellar and Ethereum, as reported by Tokenpost and Crypto news.

The opportunity read stands at -44, a bearish reading, after a move from 29, a bullish reading, over 24 hours. That score is news sentiment only, not a positioning gauge and not evidence that price has to reach S2 at 2284.46.

Bottom Line for This London Session

Ethereum (ETH/USD) in London is at 2305.8, down 2.19% on the day, with the day range at 62.76 dollars and with daily, four-hour and one-hour trends all down. Nearest resistance is the previous day low at 2318.92 and nearest support is S2 at 2284.46. A break below S2 at 2284.46 would open S3 at 2250.01, while the higher path still needs a break above R1 at 2391.35 before R2 at 2425.8 is in view; a move back below the daily pivot at 2355.13 would invalidate the bullish path, and a move back above that pivot would invalidate the bearish path.