Ethereum is currently trading near critical levels, which some market analysts interpret as an opportune moment for long-term investment. The focus for traders is on how the price will react around the current support zones, especially as trading volumes remain consistent.
ETH at Weekly Support Level
On the ETH/BTC pair, Ethereum is currently testing support around the 0.0325 BTC mark. This particular level coincides with the 20-week moving average, a historical indicator that has frequently served as a robust base for Ethereum's price in previous market cycles. Analyst Michaël van de Poppe has identified this as an "ideal zone for buys," suggesting that ETH is in a strong position for portfolio allocation.
Following a recent rally that saw Ethereum reach a local high, the asset has experienced a pullback. Despite this recent decline, the price chart continues to display a pattern of higher lows and higher highs. The Relative Strength Index (RSI) is maintaining a position above 50, and trading volumes have not shown significant shifts. This suggests that the current dip might be temporary, provided the support level holds. Van de Poppe further commented on market corrections, stating,
Corrections don’t last forever.
Support Holds on USD Pair
In USD terms, Ethereum is presently trading near $3,850. This represents a slight decrease of approximately 2% for the day and 3% over the past week. The asset recently experienced a bounce from the $3,700 support zone, an area that has been functioning as the lower boundary of its current trading range.
Analyst Lennaert Snyder commented on the situation, stating,
$ETH bounced from the $3,700 rangelow. I’m eyeing ~$3,937 for shorts after failure and longs after the gain.
On the ETH/USDT chart, a symmetrical triangle pattern has emerged. Ethereum is now positioned close to the lower boundary of this pattern. A decisive break below this boundary could signal further selling pressure, whereas a successful bounce might allow ETH to remain within its established range.
$ETH is so close to breaking down…
Let’s hope for a bounce here. pic.twitter.com/h4ea2Iz4P6
— Mister Crypto (@misterrcrypto) October 31, 2025
Traders are closely observing this pattern to gauge the asset's future direction as the trading range continues to contract.
Exchange Flows and Futures Activity
Earlier this week, CryptoPotato reported that over 200,000 ETH were withdrawn from cryptocurrency exchanges within a 48-hour period. While this significant outflow may have reduced immediate selling pressure, it is also possible that these movements represent an internal shuffling of assets between various exchange accounts rather than a direct shift away from exchanges.
Concurrently, open interest in CME ETH futures has reached a record high of 2.25 million contracts. These positions are distributed across expiry dates ranging from one to six months. This sustained trend indicates a growing level of institutional interest in Ethereum, particularly through regulated financial markets.