Ethereum Tests Make-or-Break Trendline as $880M in Longs Get Liquidated

Ethereum traded around $2,361 on October 15, down ~2.3%, testing a rising trendline from the June lows — a level that could decide whether the selloff stabilizes or accelerates toward $2,000.

The Trendline That Matters

ETH fell as low as $2,316.74 in a weak session. If the trendline breaks cleanly, analysts point to $1,850-$1,950 below. If it holds, ETH must reclaim $2,400-$2,450 first.

Momentum Is Deeply Bearish

Daily RSI at 34.36 (near oversold); MACD negative at -39.12. Total crypto liquidations hit $959.43M in 24 hours, $879.71M from longs; Ethereum led with $265-$290M in liquidated longs.

ETFs Offer No Rescue

US spot Ethereum ETFs saw $19.7M net outflows October 14; ~$715M has left since October 1. Exchange balances hit 11.90M ETH, the highest since early September. Hold the trendline and oversold conditions could fuel a sharp relief rally; lose it and $2,000 comes into view fast.

Source: CoinCentral, Crypto Times