Ethereum Daily Market Analysis: November 5, 2025
A comprehensive daily overview of Ethereum’s market performance and short-term outlook.
1. Price Action
- 24-Hour High/Low: Ethereum reached a high of $3,649.01 and a low of $3,097.71 over the past 24 hours.
- Current Price and Percentage Change: As of this report, Ethereum is trading at approximately $3,324.10, representing a decrease of about 2.65% to 9.88% over the last 24 hours.
- Trading Volume: The 24-hour trading volume has surged to over $70 billion, a significant increase that points to heightened market activity amidst the price decline.
2. Technical Indicators
- Exponential Moving Averages (EMAs): Ethereum is currently trading below its 20-day, 50-day, and 200-day EMAs, a bearish signal for the short to medium term. The price crossing below these key moving averages indicates strong selling pressure. There are no immediate signs of a ‘golden cross’ (bullish) or ‘death cross’ (bearish) formation, as the shorter-term moving averages are trending below the longer-term ones.
- Relative Strength Index (RSI): The current RSI for Ethereum is approximately 31 to 36.22, hovering just above oversold territory. This suggests that the recent selling pressure may be subsiding, and a short-term rebound could be possible as the market digests the recent losses.
- Moving Average Convergence Divergence (MACD): The MACD indicator is showing a bearish crossover, with the MACD line below the signal line. This, coupled with a negative histogram, suggests that bearish momentum is currently in control. However, some shorter timeframe analyses indicate a potential “golden cross” on the MACD, hinting at a possible short-term buy signal.
- On-Chain Data: The last 24 hours have seen significant liquidations, with over $418 million in Ethereum positions being wiped out, predominantly affecting long positions. This level of liquidation highlights the intense selling pressure. Notably, there has been significant whale activity, with large holders moving substantial amounts of ETH. One notable transaction involved a transfer of nearly 27,500 ETH to a privacy mixer, while other large wallets have been accumulating during the dip, with one whale withdrawing over 34,000 ETH from a major exchange.
3. Support and Resistance
- Immediate Resistance: The key immediate resistance level for Ethereum is in the range of $3,593 to $3,600. A decisive break above this level could signal a potential short-term trend reversal. A more significant resistance zone is noted around $3,960 to $4,000.
- Key Support: The immediate and critical support level that bulls must defend is around $3,171 to $3,200. If this level fails to hold, the next significant support is projected to be around the $3,000 mark.
- Fibonacci Retracement: According to Fibonacci retracement levels, the current price is hovering around the 50% retracement level of a recent upward move, at approximately $3,171. A failure to hold this level could see prices decline towards the next major Fibonacci support. On the upside, the 61.8% Fibonacci retracement level at $3,593 is a key target for a bullish recovery.
4. Fundamental News
- Ethereum ETF Outflows: A significant headwind for Ethereum has been the persistent outflows from spot Ethereum ETFs, which have now seen five consecutive days of redemptions. In the last 24 hours alone, these ETFs experienced outflows of over $219 million, with major players like BlackRock and Grayscale seeing substantial withdrawals.
- Broader Market Sentiment: The entire cryptocurrency market has been under pressure, with Bitcoin briefly falling below the $100,000 mark. This broader market sell-off is attributed to a combination of factors, including a strengthening U.S. dollar and a wave of liquidations across the crypto space, totaling over $1.3 billion.
5. Social Media and Tweet Activity
- Overall Sentiment: The social media sentiment surrounding Ethereum is currently mixed, with a slight bearish tilt due to the recent price drop. However, there is also a vocal contingent of bullish investors who view the current prices as a buying opportunity.
- Trending Narratives: The primary narratives on platforms like Twitter revolve around the massive liquidations, the ongoing outflows from Ethereum ETFs, and the significant whale movements. Discussions are also focused on whether the current price levels represent a bottom or if further downside is imminent.
- Key Influencers: Prominent crypto analysts and influencers are actively discussing the key support and resistance levels. A notable topic of conversation is the activity of a well-known crypto whale who has reopened a substantial short position on Ethereum, fueling bearish speculation. Conversely, reports of other whales accumulating large amounts of ETH are providing a counter-narrative of long-term bullish conviction.
6. Short-Term Outlook & Forecast
Based on the available data, the short-term outlook for Ethereum is cautious, with a slight bearish bias. The price is currently at a critical juncture, testing a significant support level.
- Primary Bullish Scenario: If the support at $3,171 holds and buying pressure increases, a rebound towards the resistance level of $3,600 is plausible in the next 24-48 hours. Increased accumulation by whales and a stabilization in ETF flows would support this scenario.
- Primary Bearish Scenario: A failure to hold the $3,171 support level could lead to a further decline, with the price potentially retesting the psychological support at $3,000. Continued outflows from ETFs and negative broader market sentiment would be the primary drivers of this downward move.
This analysis is for informational purposes only and does not constitute financial advice.
