ETH Sits on Its $2,444 Floor: Does the Old Low Hold Again?

ETH trades near $2,460, on its $2,444 floor. A floor is a price where falls have stopped before.

The price was up about 1.7% on 20 October. Now it sits right on that floor once again. Can the level turn it back one more time?

ETH Rests on a Floor That Keeps Turning It

The $2,444 floor has turned the price 14 times since late October 2024.

It last turned the price on 8 October.

That floor is right at the price now. The price is not hovering above it or drifting toward it. It is sitting on it.

The price is down about 9% this month so far. That slide brought ETH back to the level it has met so often.

The price sits right on its $2,444 floor. Source: Binance ETH/USDT daily prices, to the 20 October daily close, computed by www.altcoinbuzz.io.

Trading Stayed Ordinary as ETH Reached the Floor

Trading volume, the total value bought and sold, came to $589 million on 20 October. That was close to its 20-day average.

So the day of gains was neither heavy nor light for trading. The test of the floor came without a burst of activity on either side.

Over the past month, the price traded between $2,318 and $2,807. The floor sits inside that range, not at its edge.

ETH's $2,444 Floor and $2,572 Ceiling Frame the Test

A daily close is the last price of the day.

On the upper side, the nearest ceiling sits at $2,572. A ceiling is a price where rises have stopped before. That level is about 5% above the price now.

A daily close above $2,572 would bring the next ceiling, $2,666, into play. That level sits about 9% above the price now.

A daily close below $2,444 would leave the floor behind. The next floor on that side is $2,363, about 4% below the price now.

A daily close below $2,444 or above $2,572 would settle the test. Source: Binance ETH/USDT daily prices, to the 20 October daily close, computed by www.altcoinbuzz.io.

ETH now sits between $2,444 below and $2,572 above. A daily close outside either one is what would decide where it stands next.