$2,000: ETF Slides After October's Hot CPI | Ethereum Price Forecast

$2,040: Ethereum price today

• $2,000 came into view for Ethereum on Tuesday. The decline followed an above-forecast October CPI inflation report.
• Six consecutive weeks of outflows preceded further weakness in ETH ETFs.
• With $2,100 support broken, ETH could slide to $1,970.

$2,000 came into view for Ethereum (ETH) on Tuesday. Rising US inflation and outflows from exchange-traded funds (ETFs) put pressure on the market.

4% Ethereum decline deepens as hot CPI lifts Fed hike expectations

Nearly 11% of the top altcoin's value has been lost over the week following a 4% decline in the past 24 hours. ETH futures liquidations reached $254.8 million as a result, with liquidated long positions accounting for $193.3 million.

An upside surprise in October's Consumer Price Index (CPI) inflation report preceded the sell-off. Bureau of Labor Statistics data showed a monthly increase of 0.4%, against a forecast of 0.3%. At 0.3% month-on-month, core CPI also exceeded the 0.2% estimate. Annual inflation figures were not released by the BLS because of the government shutdown in October 2025.

Expectations of a rate increase at the Federal Reserve's (Fed) forthcoming December meeting surged after the inflation release. The CME FedWatch tool put the probability of a 25 basis point hike at 90.5%, with the likelihood of a 50 basis point increase rising to 9.5%.

High interest rates typically weigh on the performance of risk assets, including cryptocurrencies.

Outflows also persisted in US spot ETH ETFs. SoSoValue data showed net withdrawals of $184.5 million on Monday, the largest daily total in over a month. Last week marked their sixth consecutive week of net outflows, extending a losing weekly run that began at the start of October.

$2,100 support breaks: Ethereum technical outlook

Trading below the 20-, 50-, and 100-day Exponential Moving Averages (EMAs), ETH retains a bearish near-term bias on the daily chart. These averages cluster at roughly $2,270 to $2,360. Rallies are therefore likely to encounter resistance as long as the pair stays beneath them.

A decline in the 14-day Relative Strength Index (RSI) towards oversold territory near 30, alongside a Stochastic Oscillator in the low teens, points to stretched downward momentum. Neither signals a confirmed reversal.

Any recovery faces initial resistance at $2,101, then a firmer barrier near $2,204. Beyond these levels lie $2,250 and the 20-day EMA around $2,269. A dense supply zone sits higher, comprising the 100- and 50-day EMAs at $2,332 and $2,359 respectively, together with horizontal resistance nearby at $2,355. Further barriers stand at $2,548, $2,636 and $2,781.

Immediate downside support lies at $1,971. A break beneath it would bring the next key floor near $1,827 into focus.

(The technical analysis of this story was written with the help of an AI tool. Know more.)