#ETH回调后能否企稳 #Gate广场万圣节 ETH currently looks more like an ongoing correction, but it is approaching a support zone that needs to be tested.

It is too early to call this a “shakeout before renewed momentum”; first watch whether the price can hold and whether funds can flow back in.

As of October 26, ETH was around $2,346, down about 0.7% over 24 hours and nearing its monthly low. Weakness in BTC and slowing ETF inflows have also weighed on ETH.

Focus on three things next:
· Price support: First watch $2,300–$2,350. Holding this range would create an opportunity to recover; a high-volume break below $2,300 would put the next support near $2,200.
· Trading volume: Lower volume during declines and higher volume during rebounds would indicate easing selling pressure; higher volume during declines and lower volume on rebounds would indicate weak buying support.
· Fund flows: U.S. spot ETH ETFs recorded net outflows of about $221 million last week, the most direct current sign of weakness.
With continued outflows, even if the price briefly holds steady, it could easily dip again. One other detail is worth noting: recent declines came with considerable long liquidations, suggesting leveraged position closures amplified the drop, which may not have been entirely due to panic selling in the spot market.
Therefore, watch price breakdowns and fund outflows together.

My view is: If $2,300–$2,350 holds, ETF flows return to net inflows, and rebounds come with higher volume, the pullback would look more like consolidation before another move higher; if the price continues breaking down on high volume while ETFs keep seeing outflows, the correction likely isn’t over yet.