Ethereum (ETH/USD) Latest News: Price Tests Resistance in New York

Market news Neutral bias Nov 1, 2026, 16:05 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Ethereum sits between the daily pivot and R1 resistance during the New York session. Technical trends present a mixed picture as price holds slightly above the previous close.

Ethereum Price Action During the New York Session

Ethereum is currently trading at 2264.21 during the New York session, up 11.62 dollars or 0.52 percent on the day. Price action sits firmly between the daily pivot at 2250.25 and R1 at 2267.41. The nearest resistance level is the previous day high at 2265, located just 0.79 dollars away. On the downside, the nearest support is the daily pivot at 2250.25, situated at a distance of 13.96 dollars. Technical evidence presents a mixed picture for market direction today, as the daily and four-hour trend indicators continue to point lower, while the shorter-term one-hour trend points higher.

ETF Outflows and Decentralized Finance Valuations

Recent news coverage highlights historical exchange-traded fund outflows and the dollar valuation of decentralized finance contracts, as reported by CryptoPotato and Tokenpost. Additionally, media outlets including CryptoSlate and Tokenpost note that network validators received payouts following breached trades on Binance. Blockonomi also notes the conditions surrounding Hormuz talks. These particular themes represent what people are currently talking about and are not proven drivers of the pair's price action. The news sentiment opportunity reading sits at a neutral score of -13.

Technical Assessment and Volatility

The day's trading has covered a range of 20.68 dollars, moving from a day low of 2252.4 to a day high of 2273.08. This intraday action makes up 24 percent of the fourteen-day average true range of 87.2 dollars. Evaluating recent performance, ETH/USD has dropped 2.42 percent over the past five days, establishing a high of 2389.59 and a low of 2170.03 during this specific window. Looking at the twenty-day timeframe, the pair shows a more pronounced decline of 10.65 percent, highlighting the extent of the recent selling pressure on ETH/USD. The twenty-day window features a peak at 2576.89 and shares the exact same low at 2170.03. In terms of broad market structure, price remains bounded by the round numbers of 2250 below and 2300 above.

Daily Trend Indicators

Looking at the daily chart, ETH/USD remains positioned below the two-hundred-period exponential moving average of 2317.07, the fifty-period average at 2426.18, and the twenty-period average at 2377.17. The daily relative strength index currently reads 31.9. Price presently sits above the previous close of 2252.59, despite the longer-term averages signaling downward momentum.

Key Resistance Barriers and Downside Risk Scenarios

In terms of upside potential, a break above R1 at 2267.41 would open the way to R2 at 2282.17; a move back below the daily pivot at 2250.25 would invalidate that view. Focusing on the downside path, a break below S1 at 2235.49 would open the way to S2 at 2218.33; a move back above the daily pivot at 2250.25 would immediately invalidate the bearish case.

Macro Catalysts: Economic Calendar

The economic calendar features United States data releases scheduled for tomorrow at 15:00 UTC. The high-impact ISM Manufacturing PMI carries an estimate of 54.7 against a previous print of 54.5. Medium-impact releases at the exact same time include the ISM Manufacturing Prices Paid with an estimate of 77.5, alongside the ISM Manufacturing New Orders Index and the ISM Manufacturing Employment Index. Tomorrow at 16:15 UTC, the Federal Reserve's Goolsbee is scheduled to speak. Finally, tomorrow at 19:00 UTC brings the release of the Loan Officer Survey.