GLOBAL ONCHAIN SUMMIT IS COMING TO MUMBAI
✕ News Bitcoin Stocks Prediction Markets News Trending ETFs US Iran War Clarity Act Crypto Market Live Updates LIVE TradFi Blockchain Regulation Stablecoin DeFi DATs Tokenization Loading... More News → Markets Price Analysis Price Prediction Crypto Prices Calculator Crypto Stocks Market Brief Prediction Markets Loading... More News → Top Picks Best Crypto Exchanges Best Crypto Cards Prediction Markets Wallets DeFi AI For Businesses Tokenization Platforms Institutional Investors Stablecoin Infrastructure Best DEXs Best Perp DEXs Best Futures Platforms Best No-KYC Exchanges Best Pre-IPO Tokens Platforms Crypto Cards Compare No KYC Crypto Cards Travel Crypto Cards Crypto Card Offers Stablecoin Cards UK Crypto Cards USA Crypto Cards Cashback & Rewards Crypto Cards Best Regulated Prediction Markets in the US Best Crypto Prediction Markets Best Sports Prediction Market Best Leveraged Prediction Market Best Geopolitical Prediction Market Best Prediction Market Tools Best Crypto Wallets Self-Custody Wallets MetaMask Alternatives Best DeFi Platforms Best Crypto Swaps Best DEX Aggregators Best Staking Platforms AI Crypto Wallets AI trading bots Web3 AI Agents Best Payment Gateways Top Audit Firms Best Tax Softwares Best Prop Firms Best Telegram Channels Top Marketing Firms RWA Tokenization Platforms White Label RWA Platform Tokenized Asset Custody Crypto Exchanges For Tokenized RWAs Institutional Crypto Lending Best Tokenized Asset Custody Exchanges For Institutional Investors Best Institutional Crypto Staking Platforms Best Stablecoin Infrastructure Provider Best Stablecoin Orchestration Platforms Best Stablecoin Settlement Platforms Best Crypto Wallet Infrastructure Providers Best Stablecoin APIs Loading... More Top Picks → Enterprise Brand Pulse CXO Stories Opinion Interviews Funding Explorer Tokenization Tracker M&As Startup Product Launch Expansion Loading... Visit Block of Fame: Our B2B Hub → Podcast Review & Rating Exchange Ratings Wallet Ratings Crypto Card Ratings Loading... More Ratings → Research Case Studies Quarterly Reports Deep Dive Reports Loading... Visit Research → Company About Us Editorial Team Editorial Policy Careers Advertise Contact Us Submit PR ABOUT COINGAPE
CoinGape delivers live crypto news, reporting, market analysis, project analysis, listicles, reviews & ratings, combining macro coverage to surface real market signals
More Education Blog Glossary Events Loading... Ecosystem Block of Fame Voice of Web3 Awards BUZZ3 Podcast Ecosystem Block of Fame Voice of Web3 Awards Global OnChain Summit BUZZ3 Global Onchain Summit | Awards Prediction Markets NEW Web3 Projects AEO RWA Discovery Crypto Lawyers EN PT ES DE b btc $82,410 ▼ 0.26% e eth $2,492 ▼ 2.33% b bnb $741 ▼ 3.22% s sol $110 ▼ 4.13% x xrp $1 ▼ 0.89% u usdc $0.9996 ▲ 0.00% a ada $0.2365 ▼ 6.36% d doge $0.0843 ▼ 3.86% b btc $82,410 ▼ 0.26% e eth $2,492 ▼ 2.33% b bnb $741 ▼ 3.22% s sol $110 ▼ 4.13% x xrp $1 ▼ 0.89% u usdc $0.9996 ▲ 0.00% a ada $0.2365 ▼ 6.36% d doge $0.0843 ▼ 3.86% b btc $82,410 ▼ 0.26% e eth $2,492 ▼ 2.33% b bnb $741 ▼ 3.22% s sol $110 ▼ 4.13% x xrp $1 ▼ 0.89% u usdc $0.9996 ▲ 0.00% a ada $0.2365 ▼ 6.36% d doge $0.0843 ▼ 3.86% b btc $82,410 ▼ 0.26% e eth $2,492 ▼ 2.33% b bnb $741 ▼ 3.22% s sol $110 ▼ 4.13% x xrp $1 ▼ 0.89% u usdc $0.9996 ▲ 0.00% a ada $0.2365 ▼ 6.36% d doge $0.0843 ▼ 3.86% Buy Ad Buy on Binance
Ad Home / Price Analysis / Ethereum Price Prediction: Analyst Warns of Deeper Correction as ETH Sees Highest Long Liquidations Since June Ethereum Price Prediction: Analyst Warns of Deeper Correction as ETH Sees Highest Long Liquidations Since June 07 Oct, 2026 By Muthoni Mary Muthoni Mary
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Ethereum (ETH) price has dropped below $2,600 amid a surge in long liquidations to the highest level since June. Analysts are now warning of a steeper correction as ETH price tests a crucial support level after the recent dip
Ethereum is down 5.67% today, October 7, to trade at $2,555 at the time of writing
Data from CoinGlass shows that there were $201 million in liquidations from the Ethereum market on October 7. This marks the highest single-day long liquidation by ETH since June 5
The long liquidations mirror a downtrend across the broader crypto market, with Bitcoin (BTC) price also falling to below $84,000
The downturn caused a total of $665 million in liquidations across the entire market, with the largest single liquidation order being an ETH/USDC position worth $26 million on Binance
The ongoing long squeeze has pushed Ethereum’s weighted funding rate to -0.0043%, with this being the lowest funding rate reading since early September
Analyst Ted Pillows on X notes that Ethereum price is now testing support at the 100-week EMA after falling below the psychological support of $2,600. He warns that Ethereum could head for a “deeper correction” if it closes below this EMA
Analyst Daan Crypto also notes that Ethereum price has dropped below its 2-3 week range after the 5% decline today. The analyst notes that the breakdown suggests that the long-term Ethereum outlook remains bearish unless there is a significant move to the upside
Analyst Daan adds that the downtrend may continue because of a surge in selling pressure. He also says that Ethereum’s open interest is rising despite the price decline, with this suggesting the downtrend may continue
This bearish outlook by analysts coincides with rising outflows from Ethereum ETFs. Data from SoSoValue shows that there were $201 million in outflows from these ETFs on October 6, with this being the highest single-day outflow since mid-September
Ethereum ETFs have also seen $252 million in outflows this week. The weekly outflow seen so far is the highest registered by the ETFs since June 2026
In contrast, Bitcoin ETFs recorded $118 million in inflows on October 6, while XRP inflows also came in at $3.14 million
The one-week chart for ETH value shows that bears are testing support at the 100W EMA of $2,561
Past trends show that Ethereum price tumbled after closing below this EMA. In February 2025, a close below this EMA saw ETH drop from $2,800 to $1,500. A similar drop in January 2026 saw ETH fall from $3,200 to $1,700
If ETH closes below the 100-week EMA, the price could move below $2,400 and test support at the midline of the FVG gap at $2,100
However, if buyers return, ETH may reclaim the $2,600 price before targeting $2,800
Instant Currency Exchange at BestChange with Ease
1. Why is Ethereum price crashing today?
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
Ethereum Price Prediction as ETH ETFs Post Highest Weekly Outflows Since January
Why is NEAR Protocol Price Outperforming BTC, ETH and XRP Today?
Why Analysts Think Ethereum Price Could Rally to $3K This Week
Ethereum Price Forecast as Fed Rate Hike Odds Drop on Cooling US Inflation
Bitcoin Price Prediction Eyes $100K in Q4 2026 as ETF Demand Hits Ninth Day
1 BTC Welcome Bonus. No KYC to start. → 1 BTC Welcome Bonus. No KYC to start. → Play Now SPIN NOW Win upto $5000 + 100 free spins the 30% Cashback
