Ether, the second-largest cryptocurrency, held near $2,245 on Saturday as the crypto market steadied after a week in which it fell sharply from above $2,400.
Ether traded at about $2,240 to $2,247 on Saturday morning, up 0.4% to 0.7% over 24 hours, and briefly crossed $2,250 on Binance early in the day. It is roughly flat on the week but down 12.7% over the past 30 days — a reminder that the week’s rebound above $2,400, reported on Friday, did not hold.
The move mirrors bitcoin, which steadied just above $76,000 on Saturday after falling back from above $81,000 earlier in the week. Both coins are being held back by the same forces: heavy selling from US spot exchange-traded funds — bitcoin funds lost $411.9 million on Friday alone — and Friday’s hot US jobs report, which pushed traders to price in an 80% chance of another Federal Reserve rate rise in December.
What traders are watching
Ether’s immediate support sits near $2,206, according to technical analysis, with resistance above $2,250. Sentiment is described as neutral to bearish, with no fresh catalyst dated November 7 identified for either coin.
The weekend pause
For holders, the weekend brings a pause: US markets are shut, trading volumes nearly halve, and the next test comes on Monday, when stock markets reopen and the crypto market takes its cue from equities again. If bitcoin loses its 50-week moving average near $75,560, ether is likely to follow it lower. Ether’s fall from $2,428 earlier in the week mirrors bitcoin’s slide from above $81,000, and both coins fell as the Nasdaq dropped 5.52% on Thursday in a chip-led sell-off. The Crypto Fear and Greed Index sits at 25, in Extreme Fear territory, which contrarians often read as a possible bounce zone. For now, though, the market’s message is caution: with US markets shut for the weekend, the next real test comes on Monday.
