Ethereum (ETH/USD) Technical Analysis: Testing R1 Near $2,305

Daily outlook Neutral bias Nov 4, 2026, 07:14 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Ethereum holds between the daily pivot at $2,271.06 and R1 at $2,305.20, with daily, H4 and H1 trends in conflict ahead of today's US ADP and ISM Services releases.

Ethereum (ETH/USD) Price Now

Ethereum trades at $2,295.48 during the London session, up $23.51, or 1.03%, on the day, after opening at $2,271.97. The day range runs from the day low at $2,226.67 to the day high at $2,302.89, and the last print sits between the daily pivot at $2,271.06 and R1 at $2,305.20.

The day's range so far measures $76.22, which is 93% of the 14-day ATR of $81.91, meaning today's move has already covered nearly a full average day of volatility. Readers weighing how far price typically travels in a session can run the current range against historical norms with the ATR volatility guide.

Trend And Momentum Across Timeframes

The daily chart remains in a down state, with price sitting below the 20-day EMA at $2,347.95, the 50-day EMA at $2,407.90, and the 200-day EMA at $2,314.87. The 14-day RSI reads 36.6, soft but not yet in oversold territory.

The four-hour trend is mixed, with its 20-period EMA at $2,273.91 still below the 50-period EMA at $2,290.34, while the one-hour trend has turned up, with the 20-period EMA at $2,276.68 now above the 50-period EMA at $2,272.21. With the daily trend down, the four-hour trend mixed, and the one-hour trend up, the timeframes do not agree, which keeps today's bias neutral rather than leaning firmly either way.

Key Levels: Pivots, Prior Range And Round Numbers

The nearest resistance is the previous day high at $2,304.62, just $9.14 above the last price, while the nearest support is the daily pivot at $2,271.06, $24.42 below. That previous day high sits almost on top of pivot resistance R1 at $2,305.20; above it, the ladder continues to R2 at $2,338.76 and R3 at $2,372.90. On the downside, pivot support runs through S1 at $2,237.50, S2 at $2,203.36, and S3 at $2,169.80. These levels, along with the previous day low at $2,236.92, can be checked against a live pivot point calculator or explained further in the guide to pivot points.

Looking at wider ranges, the five-day window spans a high of $2,314.92 to a low of $2,170.03, leaving Ethereum up 2.1% over that stretch. The 20-day window is broader, running from a high of $2,524.38 to the same low of $2,170.03, a span that leaves the pair down 5.09% over the period. Among round numbers, $2,300 sits just above the current price and $2,250 is the nearest round level below it.

Bullish And Bearish Scenarios

On the upside, clearing R1 at $2,305.20 would open the way toward R2 at $2,338.76; a slide back below the daily pivot at $2,271.06 would undercut that case. On the downside, a break through S1 at $2,237.50 would point toward S2 at $2,203.36, a path that would be invalidated by a recovery back above the daily pivot at $2,271.06.

The distance from trigger to target is similar on both sides, $33.56 for the bullish path and $34.14 for the bearish one. Those figures are worth weighing against position size before acting on either scenario, something a risk and reward calculator can help quantify.

What Could Move ETH/USD Today

The calendar is loaded with US data once New York joins the session at 12:00 UTC. The ADP Employment Change lands at 13:15 UTC, with the estimate at 69 against a previous reading of 90. The S&P Global Composite PMI follows at 14:45 UTC, with the estimate holding at 57.6, matching the previous figure. At 15:00 UTC, the ISM Services PMI carries an estimate of 54.8 versus a previous 54.9, alongside the ISM Services New Orders Index (previous 59.8), Prices Paid (previous 74), and Employment Index (previous 50.1), none of which carry a current estimate. Tomorrow brings Challenger Job Cuts at 10:30 UTC, following a previous reading of 43.281; scheduling details for releases like these are covered in the economic calendar guide.

Newsflow today leans toward Ethereum's technical roadmap, with Crypto Briefing and Cointelegraph both reporting an accelerated 2028 target for the network's post-quantum security transition, alongside separate coverage from Tokenpost on post-quantum signature aggregation and from Altcoin Buzz on a network reorg bug that briefly halted swap activity elsewhere in the ecosystem.

News sentiment data puts the opportunity score at 41, a bullish reading, after climbing from -40 to 12 over the prior 24 hours. That reading describes the tone of coverage rather than positioning or a forecast for price.

Bottom Line

Ethereum sits between the daily pivot at $2,271.06 and R1 at $2,305.20, with the previous day high at $2,304.62 the closest resistance and the pivot the closest support. The daily trend is down, the four-hour trend is mixed, and the one-hour trend is up, so the technical picture stays neutral heading into the ADP, PMI, and ISM Services releases due between 13:15 and 15:00 UTC. A clean break of either R1 or S1 would define which of the two scenarios takes shape from here.