Ethereum recovered to around $2,266 on Sunday as buyers attempted to defend the $2,250 level ahead of the weekly close. The rebound followed a selloff triggered by news of the Binance breach, but ETH remained below its previous weekly high of $2,385.

U.S. spot Ethereum exchange-traded funds recorded $155.7 million in net outflows on October 30, extending withdrawals to five consecutive sessions and bringing the combined total to $431.4 million. At the same time, funding rates reached their lowest level since June, according to crypto analyst Ted, while futures traders continued positioning for another decline.

The weekly chart identifies $2,192 as the next significant support level, with potential resistance around $2,400 and $2,500. Market attention has focused on whether ETH can hold $2,250 before the new trading week begins.

Ethereum Rebounds After Binance-Related Selloff

Ethereum briefly fell below $2,200 after news of the Binance breach spread across cryptocurrency markets on Thursday. Buyers later returned, helping ETH recover some of its losses, although the rebound has not gained enough momentum to reclaim $2,385.

Ted said Ethereum needed to hold $2,250 into Sunday’s weekly close and warned that a close below that level could make the following week more difficult for buyers. He also said ETH funding rates had reached their lowest point since June’s market bottom.

$ETH funding rate is now at its lowest level since June's bottom. Too many shorts expecting a major dump in Ethereum. I wonder how this'll end. pic.twitter.com/gCmRtVrhIq — Ted (@TedPillows) November 1, 2026

The post is also available at and https://x.com/TedPillows/status/2116800726693187718?ref_src=twsrc%5Etfw.

The weak futures positioning coincided with continued withdrawals from U.S. spot Ethereum ETFs. Farside Investors reported $155.7 million in net outflows on October 30. BlackRock’s ETHA accounted for $76.6 million of the outflows, while Grayscale’s Ethereum Mini Trust recorded another $34.1 million.

The ETF withdrawals continued even as some corporate investors increased their Ethereum holdings. Bitmine purchased another 10,452 ETH during the previous week, bringing its total holdings above 6 million tokens.

Traders have also continued monitoring Ethereum holdings connected to the Binance attackers. Blockchain investigators linked the breach to North Korea’s TraderTraitor group, while stablecoin issuers froze billions of dollars in affected assets. Native ETH cannot be frozen by a central issuer in the same way, leaving potential transfers of the stolen supply under scrutiny.

Weekly Chart Identifies $2,192 as Next Support

Ethereum’s weekly chart shows that the cryptocurrency remains below $2,385, a level where sellers have maintained control of recent price movements. An earlier Ethereum market analysis had identified weakness around that area before the latest decline. ETH subsequently moved toward $2,200, bringing the next support zone into focus.

Immediate weekly support is identified at $2,192.47, near the middle line of the 20-week Bollinger Bands. If buyers defend that level, ETH could attempt to recover toward $2,400 and $2,500.

$ETH is back above the $2,250 level. The weekly close will happen today, and a close below $2,250 could make things difficult for Ethereum. pic.twitter.com/FNoK7MymK9 — Ted (@TedPillows) November 1, 2026

The post is also available at and https://x.com/TedPillows/status/2116835388731875678?ref_src=twsrc%5Etfw.

A stronger recovery would require ETH to reclaim $2,800.47, where its previous advance encountered resistance. A move above that level would bring the upper Bollinger Band at $2,914.16 into reach. Further buying could then place the next resistance level at $3,447.44 in focus.

Conversely, a weekly close below $2,192 would weaken the recovery outlook and expose support near $1,965.22. Continued selling could push ETH toward $1,713.44, while the lower Bollinger Band is positioned around $1,470.78.

The downside levels follow an earlier break below Ethereum’s rising daily trendline during the Binance-related market selloff. With futures positioning still weak, traders are watching whether ETH can defend $2,250 into the weekly close. Monday’s ETF flow data will offer another measure of demand when U.S. markets reopen.

Source: https://blockonomi.com/ethereum-price-prediction-will-eth-crash-below-2250-as-funding-rates-sink/