Will the price of Ethereum be above $2,500 on October 11?

Analysis

Ether last traded at about $2,573 on October 7, roughly 3% above the $2,500 line, after a liquidation-driven slide that dragged it down from an opening near $2,697. That cushion is thin, but with a few days left before the noon Eastern close on October 11 on Binance, the forecast leans toward Ether finishing above it. The selloff has been rough. Reports indicate long positions made up over 95% of roughly $233 million in liquidations over 24 hours, and ETH briefly dipped under $2,600 earlier in the day. US spot Ether ETFs also shed about $202 million on October 6, the largest daily outflow since mid-September, and outflows have now run six trading days in a row. Still, the bigger picture is not broken. Ether is holding above its 100-day and 200-day moving averages, and it has climbed well off the June lows near $1,500. A forced flush of overleveraged longs can clear the decks, and this one has pushed price to test its 50-day average near $2,546, which sits just above the threshold. The risks are real, though. Rising Treasury yields, higher oil and a stronger dollar are all leaning on risk assets, and the Fed's September meeting minutes were still due. A drop through the 50-day line could open the door to a quick run at $2,500 and below. Watch the 50-day average near $2,546. If Ether loses it and ETF outflows keep coming, the cushion disappears fast.