Ether Trades Below Seven-, 20- and 50-Day Moving Averages

Ether (ETH) traded at $2,492.63 in the Oct. 10 Binance spot-market snapshot, remaining below three shorter-term moving averages as futures sell-initiated volume exceeded buy volume.

The 24-hour trading range was $2,474.34 to $2,520.54. Ether was below its seven-day simple moving average at $2,594.81, its 20-day average at $2,662.89 and its 50-day average at $2,554.22. Its 200-day average was $2,133.02.

At 3 a.m. ET (07:00 UTC), Binance futures open interest stood at about 2.35 million contracts, with a notional value of approximately $5.78 billion. Open interest declined 0.85% over the previous 24 hours.

During the latest one-hour period, sell-initiated volume reached 19,618 contracts, compared with 13,802 contracts of buy-initiated volume. The taker buy/sell ratio was 0.7035, leaving sell volume about 42% higher than buy volume.

The figures cover Binance activity and do not represent total global positioning. A decline in open interest alongside a flat or falling price can reflect closed positions, but the figures do not show whether long or short positions accounted for most of the closures.

Binance’s funding rate was 0.0056% over eight hours. That level was effectively neutral. Account positioning remained tilted long, with 75.4% of accounts net long and 24.6% net short, producing a global long/short ratio of 3.07. Among top traders, 68.8% were net long and 31.2% were net short, for a ratio of 2.21.

Momentum indicators were mixed. The 14-period relative strength index was 39.59, while the stochastic oscillator showed %K at 23.30 and %D at 18.64. The 14-period average true range was $76.85.

Immediate resistance levels were $2,517.33 and $2,542.04. Support levels were $2,471.13 and $2,449.64.

The Binance figures point to near-term selling pressure, but they do not confirm a broader trend breakdown.