Ethereum Bounces Amid Crypto Outflows – Short-Term Outlook

[madmax]

Hello everyone, Ethereum saw an interesting technical rebound yesterday amid concerns over the Fed and crypto liquidity outflows, so let’s analyse ETH today! The ADP Non-Farm Employment Change reported an increase of 42,000 jobs, well above the 28,000 forecast, reinforcing the view that the Fed is unlikely to cut rates soon. This strengthened the USD and slightly raised U.S. Treasury yields. Meanwhile, U.S. stocks like the NASDAQ and S&P500 declined as investors worried about “higher for longer,” causing short-term outflows from crypto. Despite this, ETH held its 3,100 – 3,200 USD floor, signalling that buyers are beginning to step in.

From a 4H technical perspective, Ethereum touched a low at 3,110 USD, forming a long-wick candle with surging volume, reflecting strong buying pressure. Currently, price is retracing within the 3,420–3,500 USD FVG, with the lower green FVG at 3,340–3,390 offering support and the upper red FVG at 3,500–3,600 acting as resistance, coinciding with the supply zone of 3 November. The Ichimoku cloud remains above price, showing the dominant downtrend, and decreasing volume on the rise confirms this is merely a technical rebound.

In my view, there are two scenarios. The higher probability is ETH testing 3,500 – 3,550 USD before returning to 3,350 – 3,300 USD to accumulate, then bouncing toward 3,600 – 3,680 USD. A lower probability scenario is a breakout above 3,550 USD with strong volume, potentially reaching 3,700 – 3,780 USD (upper FVG). Conversely, a break below 3,300 USD would invalidate the rebound and push ETH to 3,150 – 3,100 USD to attract liquidity before recovery.

Overall, this remains a technical bounce in a medium-term downtrend, though a short squeeze could occur if BTC stays above 65,000 and U.S. stocks stabilise. Ethereum’s intrinsic strength via DeFi and staking suggests 3,100 – 3,200 USD is an important short-term floor. Without a Fed or USD shock, I expect ETH to recover toward 3,600 before sideways movement and a clearer trend emerges mid-November.

So, what about you – how long do you expect this ETH rebound to hold? Comment below to share your view!

[EmTeam]

ETH resilience during outflows shows strong hands are still in play.

[Rimon Khan]

Short-term bounce, but macro pressure still hovering — cautious optimism here. ️