[ETH price is expected to rebound after technical analysis] According to Mars Finance, ETH price only increased by 1% in October, while BTC rose by 14%. The inflow for the ETH ETF on October 30 was $4.4 million, compared to $893 million for the BTC ETF.
Independent trader Poseidon believes that ETH's 'final drop' is complete, having quickly rebounded above $2500 after falling to $2382 last weekend. If the price stays above $2600, he will increase his long positions.
The ETH/BTC chart is also approaching a key support zone. Anonymous analyst MaxBecauseBTC points out that this is the range where most trading has occurred since 2016.
From a technical perspective, ETH is forming an ascending triangle on the daily chart, aiming to break through the $2800 level and flip the 100-day and 200-day EMA levels.
