Three Things to Know Ether lost a key round number this week as tech stocks slid, even while stakers locked up a record share of supply. The daily chart looks deeply oversold, yet momentum st
Ether broke below a closely watched round number on Thursday after a tech stock selloff spilled into crypto. Investors kept staking anyway, pushing locked supply to an all-time high while US spot ether funds bled cash for days.
That split defines the market right now. Traders want to know whether staking demand can outlast the ETF exits.
Ether slipped below $2,000 on Thursday for the first time since August. The selloff started in tech stocks after Jensen Huang resigned as Nvidia CEO, and crypto followed. The token last closed a day under that mark on Aug 19, when it touched a low near $1,905.
Stakers did not flinch. Validator data show about 44.6 million ETH now staked, or roughly 36.5% of supply, spread across about 799,000 validators. That is a record. Holders added about 200,000 ETH in six days while the price fell.
Funds, listed treasury firms and long-term holders drove the buying. Bit Digital said it committed about 73,700 ETH to liquid staking in the third quarter, out of roughly 163,700 it held. Staking currently pays about 2.4% a year.
US spot ether ETFs moved the other way. They lost a net $145 million on Nov 11, fund flow data show. BlackRock's ETHA accounted for about $130 million of that. November outflows now total about $696 million. Only one of eight trading days saw inflows.
The validator exit queue jumped from about 4,300 ETH to roughly 258,000. The entry queue still holds about 931,000 ETH, more than three times as much.
Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView
Ether traded near $1,940 at last check, down about 4% in the past day. That puts the token under both of the moving averages that traders use to judge the longer trend. A moving average smooths out daily swings by tracking the average closing price over a set number of days.
The 50-day average sits near $2,320. The 200-day average is close by, just below it. When price trades below these lines, they tend to act as a ceiling. Sellers often step in as rallies approach them.
Ether lost about 13% over the past week and roughly 22% over the past month. Each longer window shows a deeper loss, which means the selling has built gradually rather than arriving in one sharp drop.
The token set its record near $4,946 in late August 2025. It now trades about 59% below that peak. Most of the gains from the summer rally have been erased.
That context shapes the $2,300 target. A move there would put ether back on top of both averages at once. That would signal the downtrend has lost its grip.
The daily RSI, a 0 to 100 gauge of momentum, has dropped to about 25. Readings under 30 count as oversold. That means sellers have pushed the price down fast, and the move may be stretched.
Oversold stretches often come before a relief bounce. Traders who sold early start covering, and bargain hunters step in.
Other signals urge caution. Momentum is still pointing down, with the MACD line holding below its signal line. A turn higher there would be the first sign the selling is fading.
Trend strength gauges show sellers leading a real trend. Oversold markets can stay oversold while that holds. For now, the bottom remains unconfirmed.
On the daily chart, the nearest support sits near $1,850. Buyers would need to defend that line first. The chart shows no mapped floor beneath it.
That gap matters. A daily close under that level could send ether quickly back toward the August low. With momentum still pointing down, a break there would give sellers room to run.
Overhead, first resistance sits near $2,280. That level lies just under the 200-day average, so the two form a tight band of selling pressure.
Clearing that band would change the picture. It would reopen the path to the 50-day average and then the next ceiling near $2,400. Until then, ether trades in a range with a firm lid and a thin floor.
Ether's next decisive daily close should settle which way this range breaks.
For ether to reach that target, two things must change at once. ETF outflows need to slow, and stakers must keep soaking up supply. Until both show up in the data, a short bounce looks likelier than a full reversal.
The risks run the other way. Fresh weakness in tech stocks or a swelling exit queue could push ether through support.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
