{"id":24950,"date":"2026-11-02T01:07:11","date_gmt":"2026-11-02T01:07:11","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/11\/02\/why-is-ethereum-price-up-today-as-eth-targets-2300-recovery\/"},"modified":"2026-11-02T01:07:11","modified_gmt":"2026-11-02T01:07:11","slug":"why-is-ethereum-price-up-today-as-eth-targets-2300-recovery","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/11\/02\/why-is-ethereum-price-up-today-as-eth-targets-2300-recovery\/","title":{"rendered":"Why is Ethereum price up today as ETH targets $2,300 recovery?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"is-style-lead\">Ethereum price has recovered above $2,250 on November 1, gaining 1.12% to almost $2,270 as Bitcoin approaches $78,000 following last week\u2019s crypto sell-off.<\/p>\n<div id=\"cn-block-summary-block_a0d31a717b69a7f6d5b148b9bf9ac85f\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price has gained 1.12% to nearly $2,270 as Bitcoin recovers toward $78,000.<\/li>\n<li>ETH is recovering from October\u2019s losses despite five consecutive sessions of spot Ethereum ETF outflows.<\/li>\n<li>U.S. spot Ethereum ETFs recorded $431.4 million in weekly withdrawals, including $155.7 million on Friday.<\/li>\n<li>CryptoQuant data shows 43.8 million ETH staked, representing about 35.9% of Ethereum\u2019s circulating supply.<\/li>\n<li>Analysts are watching $2,250 support and $2,300 resistance, while funding rates point to increased short positioning.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to <a href=\"https:\/\/crypto.news\/price\/ethereum\/\" target=\"_blank\">crypto.news price data<\/a>, ETH traded near $2,269.89 during Sunday\u2019s session, while Bitcoin price gained roughly 0.7% to $77,961. The recovery follows several difficult trading sessions that pushed Ethereum toward $2,200 after the October 29 Binance security breach.<\/p>\n<p>Ethereum\u2019s advance has coincided with improving prices across the cryptocurrency market. However, continued institutional withdrawals and weak technical indicators suggest buyers have yet to establish a sustained recovery.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Why is Ethereum price rising despite ETF outflows?<\/strong><\/h2>\n<p>Ethereum\u2019s latest gains have closely followed Bitcoin\u2019s recovery, with both cryptocurrencies trading higher after the market losses triggered by the Binance hack.<\/p>\n<p>The incident initially pushed cryptocurrency prices lower as traders reacted to the theft of approximately $6.3 billion in digital assets.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>However, Binance has since <a href=\"https:\/\/crypto.news\/binance-reopens-bitcoin-withdrawals-after-hack\/\" target=\"_blank\">started restoring withdrawals<\/a> and reported that around 95% of affected assets have been replenished. The exchange has committed to covering the stolen funds using its own resources.<\/p>\n<p>Although these developments have reduced some immediate concerns surrounding the exchange, Ethereum has not received comparable support from institutional investment products.<\/p>\n<p>Data from <a href=\"https:\/\/farside.co.uk\/eth\/\" target=\"_blank\">Farside Investors<\/a> shows U.S. spot Ethereum ETFs recorded $155.7 million in net withdrawals on October 30.<\/p>\n<p>BlackRock\u2019s ETHA led the selling with $76.6 million in outflows. Grayscale\u2019s Ethereum Mini Trust lost $34.1 million, while its ETHE product recorded another $21.5 million.<\/p>\n<p>BlackRock\u2019s ETHB registered $19.5 million in withdrawals, followed by Fidelity\u2019s FETH at $3.3 million and Morgan Stanley\u2019s MSSE at $700,000.<\/p>\n<p>Across October 26\u201330, Ethereum funds experienced five consecutive sessions of net withdrawals totaling $431.4 million, compared with $220.7 million during the previous five-session period.<\/p>\n<p>As crypto.news <a href=\"https:\/\/crypto.news\/ethereum-price-falls-etf-outflows-october-29-2026\/\" target=\"_blank\">reported on October 29<\/a>, persistent institutional selling had already pressured ETH before the Binance incident.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum staking reaches record levels as institutional selling continues<\/strong><\/h2>\n<p>Despite the ETF withdrawals, Ethereum\u2019s staking activity has continued growing, according to CryptoQuant analyst theophiluspep.<\/p>\n<p>The analyst <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/6ae654b2e56e41440bb9d6a2-Record-ETH-Staking-Meets-Persistent-ETF-Outflows\" target=\"_blank\">reported<\/a> that nearly 43.8 million ETH was locked in Ethereum\u2019s consensus layer.<\/p>\n<p>The amount represents around 35.9% of circulating supply, with the network supporting approximately 814,000 active validators.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/media.crypto.news\/2026\/11\/image-1-1024x576.webp\" alt=\"Ethereum total value staked, source: CryptoQuant\" class=\"wp-image-14488429\" srcset=\"https:\/\/media.crypto.news\/2026\/11\/image-1-1024x576.webp 1024w, https:\/\/media.crypto.news\/2026\/11\/image-1-300x169.webp 300w, https:\/\/media.crypto.news\/2026\/11\/image-1-768x432.webp 768w, https:\/\/media.crypto.news\/2026\/11\/image-1-880x495.webp 880w, https:\/\/media.crypto.news\/2026\/11\/image-1.webp 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption class=\"wp-element-caption\">Ethereum total value staked, source: CryptoQuant<\/figcaption><\/figure>\n<p>Staked ETH remains committed to network validation until holders withdraw it through Ethereum\u2019s staking process. Its continued growth has coincided with investment funds reducing their exposure.<\/p>\n<p>The analyst described the situation as a contrast between growing staking participation and persistent ETF redemptions.<\/p>\n<p>However, the figures do not establish that staking demand caused Sunday\u2019s price increase. They show that ETH continued entering staking contracts during a period of institutional selling.<\/p>\n<p>Meanwhile, derivatives positioning has remained cautious. Crypto analyst Ted Pillows reported that Ethereum\u2019s funding rate had fallen to its lowest level since June\u2019s market bottom.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"\/>\n<p>Negative or unusually low funding rates can indicate stronger demand for short positions, although they do not guarantee an incoming short squeeze.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum price faces resistance at $2,300<\/strong><\/h2>\n<p>Ethereum\u2019s daily chart continues to show lower highs and lower lows following its October decline from the $2,750 region.<\/p>\n<p>At around $2,270, ETH remains close to the $2,250 support level, which traders have identified as an important area for the weekly close.<\/p>\n<p>The Relative Strength Index stands at 34.15, indicating weak momentum and placing ETH near the commonly watched oversold threshold of 30.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"627\" src=\"https:\/\/media.crypto.news\/2026\/11\/image-2-1024x627.webp\" alt=\"Ethereum price chart, source: crypto.news\" class=\"wp-image-14488430\" srcset=\"https:\/\/media.crypto.news\/2026\/11\/image-2-1024x627.webp 1024w, https:\/\/media.crypto.news\/2026\/11\/image-2-300x184.webp 300w, https:\/\/media.crypto.news\/2026\/11\/image-2-768x470.webp 768w, https:\/\/media.crypto.news\/2026\/11\/image-2-1380x845.webp 1380w, https:\/\/media.crypto.news\/2026\/11\/image-2-880x539.webp 880w, https:\/\/media.crypto.news\/2026\/11\/image-2.webp 1856w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption class=\"wp-element-caption\">Ethereum price chart, source: crypto.news<\/figcaption><\/figure>\n<p>Meanwhile, the Moving Average Convergence Divergence indicator remains negative at -70.23, below its signal line at -61.05. The histogram reading of -9.18 suggests bearish momentum may be easing.<\/p>\n<p>Crypto analyst Micha\u00ebl van de Poppe identified the current price region as a potential buying area, noting that Ethereum had revisited lows recorded since its August breakout.<\/p>\n<p>He said reclaiming $2,300 would be bullish, although he acknowledged the possibility of a decline below $1,850 if the market failed to recover.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/x.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> has reached the area where you&#8217;d want to be max bidding.<\/p>\n<p>It has taken out all of the lows since the breakout in August. <\/p>\n<p>Literally all of them.<\/p>\n<p>That means: it&#8217;s going to reverse back upwards from here, or we&#8217;ll fall <\/p>\n<p>As there&#8217;s just been a massive hack in the\u2026 <a href=\"https:\/\/t.co\/ZKb2n0SYdR\">https:\/\/t.co\/ZKb2n0SYdR<\/a> <a href=\"https:\/\/t.co\/z2oBiJpS4T\">pic.twitter.com\/z2oBiJpS4T<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/x.com\/CryptoMichNL\/status\/2116628779733016810?ref_src=twsrc%5Etfw\">October 31, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Separately, Ted Pillows <a href=\"https:\/\/x.com\/TedPillows\/status\/2116835388731875678\" target=\"_blank\">warned<\/a> that a weekly close below $2,250 could create further difficulties for Ethereum price.<\/p>\n<p>A sustained move above $2,300 would bring the $2,400\u2013$2,450 resistance area into focus. Losing $2,250 could expose $2,200, followed by the psychological $2,000 level.<\/p>\n<p>Traders will also monitor the November 6 U.S. employment report for fresh economic data that could influence expectations for Federal Reserve interest rates.<\/p>\n<div class=\"cn-block-disclaimer\">\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/why-is-ethereum-price-up-today\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price has recovered above $2,250 on November 1, gaining 1.12% to almost $2,270 as Bitcoin approaches $78,000 following last week\u2019s crypto sell-off. Summary Ethereum price has gained 1.12% to nearly $2,270 as Bitcoin recovers toward $78,000. ETH is recovering from October\u2019s losses despite five consecutive sessions of spot Ethereum ETF outflows. U.S. spot Ethereum [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-24950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/24950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=24950"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/24950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/24104"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=24950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=24950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=24950"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=24950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}