Ethereum Price at $2,040: Holding $2,000 Decides Whether ETH Heads to $1,800

Three Things to Know

• A record run of spot ETH fund outflows has pushed one long-time holder to sell his Ethereum.
• ETH now trades under both major moving averages, and sellers still control momentum.
• The round $2,000 line just below the price may decide whether the slide deepens.

Spot Ether funds just logged their longest outflow streak since launch, and one veteran investment writer said he is selling his ETH because of it.

The timing matters because ETH already lost ground fast this week and now sits near a level buyers have defended. Traders want to know if institutional money returns before that floor cracks, or if the exit keeps going.

A Record ETF Outflow Streak Turns One Long-Time Holder Into a Seller

Investment writer Dominic Basulto said he is selling his Ethereum now. He pointed to one signal he calls "flashing red": steady money leaving spot ETH exchange-traded funds. Basulto disclosed that he holds both ETH and SOL.

The fund data backs his worry. Spot ETH ETFs posted net outflows for 23 consecutive trading days, from Sept 29 to Oct 30. That is the longest losing streak since the products launched in July 2024. More than $1.61 billion left the funds in October alone.

Activity on the network has cooled too. Active Ethereum addresses have dropped to their lowest level since December 2025, while Solana keeps winning DeFi users. Basulto also questioned the "ETH 2.0" golden-age thesis from BitMine chairman Tom Lee.

ETH is down about 30% this year and sits roughly 57% below its $4,954 all-time high. Without institutional buy-in, Basulto said, a new rally in 2027 is hard to see.

ETH Trades Under Both Averages After a 16% Monthly Slide

Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView

Ethereum changed hands near $2,040 on Wednesday, little moved over the past 24 hours. ETH lost about 16% over seven days, and the 30-day decline is the same size.

Those matching figures tell a simple story. The coin held roughly steady for most of the past month, then gave up all of that ground in a single week. The fast, concentrated selling fits a picture of funds and holders exiting together.

The drop pushed ETH under both of its major trend lines. The 50-day moving average, which tracks the average closing price over roughly the past two and a half months, sits near $2,330. The 200-day average, a longer gauge of the overall trend, is close to $2,300.

Price below both lines means each one now works as a ceiling. Any bounce would first have to climb back through that band. Traders often sell into those levels, so rallies toward them tend to stall.

The two averages also sit close together, with the shorter one still above the longer. That gap is small, and a continued slide could pull the 50-day under the 200-day. Chart watchers treat that kind of crossover as a sign the longer trend has turned lower.

For now, the flat day looks like sellers catching their breath.

Sellers Still Lead Even as RSI Nears Oversold

The relative strength index, or RSI, measures momentum on a 0 to 100 scale. Readings above 70 point to an overheated market, while readings below 30 signal oversold conditions. ETH's daily RSI sits right at 30, the edge of that oversold zone.

That reading confirms how heavy the recent selling has been, though it does not mark a bottom on its own. In strong downtrends, RSI can stay pinned near oversold for weeks while price keeps sliding.

Other gauges show no turn yet. The MACD, a tool that compares short and long price trends, remains below its signal line. In plain terms, momentum is still pointing down.

Trend strength readings show a firm trend, and sellers are driving it. Until that changes, any bounce from oversold levels looks more like a breather than a reversal.

Where Support Sits If the Round Number Breaks

The $2,000 mark sits just under the current price. Traders watch figures like this closely because many buy and sell orders cluster around them. A clean daily close below it would show that buyers have given up a line they have defended so far.

If that happens, the daily chart points to support near $1,850. That level is the nearest floor where buyers have stepped in before.

The data maps no further support below that floor. A break there would leave the $1,800 area exposed, with little to slow the fall.

Repair would start overhead. Resistance stands near $2,280, and a move back above it would be the first sign that sellers are losing their grip. The next hurdle above that sits around $2,400, which would bring ETH back near its trend lines.

Two Paths for the Next Three Days

Over the next three days, ETH's direction likely hinges on the round-number line just below the price.

• Bullish: Buyers defend that round number and push the price through first resistance. That would open a run toward the second hurdle near the trend lines. A daily close back under that level would cancel this setup.
• Bearish: A daily close below the round number would put the nearest support in play, with the headline target next if selling deepens. A reclaim of first resistance would invalidate this view.

Bears Keep the Upper Hand for Now

ETH stays in a downtrend until ETF money starts flowing back in and price climbs above both moving averages. Neither has happened yet.

Sellers face their own risk. Near-oversold markets can snap higher in sudden short squeezes, and those moves often hit late sellers hardest.