Ethereum (ETH) Price: Can Buyers Defend $2,300 After a Brutal Liquidation Flush?
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TLDR ETH traded at $2,375, down 1.93% on the day, after September CPI came in at 3.7% against 3.6% expected. About $292 million in ETH positions were liquidated in 24 hours, and 92% were longs. Ethereum spot ETFs saw a $129.5 million net outflow on October 14. A whale’s $92.17 million ETH long with 14x leverage was reported to be $64 from liquidation. The first resistance is $2,394, and the next major daily support is $2,141.59. Ethereum price analysis shows ETH trading at $2,375, down 1.93% on the day. The price has slipped below $2,394 and lost the roughly $2,410 low from this week’s selloff. Hotter U.S. inflation set the tone. September CPI came in at 3.7%, above the 3.6% that analysts expected.
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