Ethereum jumped back above $2,500 on 13 October after an overnight low near $2,409 and traded near $2,534 on the Binance 1h chart reviewed for this story.
The chart, timestamped 13 October at 11:57 UTC+5:30, shows the latest 1h candle at an open of $2,531.69, a high of $2,534.02, a low of $2,526.83, and a close of $2,534.02. The 20-period EMA sat at $2,508.67, the 50-period at $2,515.92, the 100-period at $2,525.81, and the 200-period at $2,558.06. RSI (14, close) read 56.30 on one line and 40.79 on the other.
A horizontal level near $2,540 is marked on the chart, with a higher line at $2,722.89. Price has reclaimed the $2,500 area but remains below the 200-period EMA and the $2,540 level.
From the 7 October close of $2,571.05 to the 13 October low is a drop of about 6.3%. The recovery from the $2,409 low puts the token back above $2,500.
ETF outflows reach a tenth session
U.S. spot Ethereum ETFs recorded a net outflow of $85.4 million on 12 October, according to Farside Investors. That was the tenth consecutive session of net withdrawals. BlackRock’s ETHA was the largest line, at $75.1 million. Grayscale’s mini ETH product accounted for $10.3 million. The remaining listed funds were flat on that day.
Cumulative net outflows since the streak began on 29 September stood at about $782.8 million on the tallies reviewed. Earlier sessions in the run included $201.9 million on 6 October and $160.9 million on 7 October. The 12 October figure is smaller than those but extends the streak. A net outflow removes a buyer that had been present on inflow days. It does not, by itself, set the spot price. The overnight dip and subsequent recovery above $2,500 occurred against that backdrop of continued withdrawals.
BitMine holdings and short liquidations
BitMine Immersion Technologies said on 12 October that it holds 6,028,946 ETH as of 11 October at 1:30 p.m. ET, valued at $2,544 per token on Coinbase pricing. That is about 4.9% of the stated 122.1 million supply. The company added 12,532 ETH over the prior week and said it is near its stated 5% target. About 5,067,309 ETH, or roughly 84% of the holdings, was staked. The announcement is a company disclosure of its balance sheet. It is not a statement that the purchase drove the 13 October recovery.
Exchange tallies showed short liquidations during parts of the recovery. A 4-hourly window through 1:29 a.m. ET on 13 October recorded about $14.76 million in short liquidations across Binance, Bybit, and OKX as the price rose, with long liquidations near $615.5K in that window. Earlier windows on 12 October had shown larger long liquidations during the decline. The figures cover the listed venues and do not represent a market-wide total. Short liquidations can add buy pressure when prices rise into those levels. They do not explain the overnight low itself.
Overnight low and recovery above $2,500
The 13 October low of $2,409.11 on the OKX table is the deepest print of the session. That low sits below the prior week’s lows and under the $2,500 area. The recovery from that low to the $2,530s on the Binance 1h chart is a partial retracement. It has reclaimed $2,500 but has not closed above the $2,540 horizontal level marked on the chart, nor has it reclaimed the 200-period EMA at $2,558.06 on the 1h timeframe.
The Crypto Times reported on 12 October that Ethereum had climbed toward $2,570 after about $48 million in liquidations, mostly shorts. The subsequent pullback through $2,500 and the overnight low near $2,409 reverse part of that move. The price action itself is the recorded fact: a low near $2,409 followed by a recovery above $2,500.
What the levels leave open
The timestamped levels are the 13 October low of $2,409.11 on the OKX table and the 1-hour close near $2,534 on the reviewed Binance chart. A sustained hold above $2,540 would put the marked horizontal level behind the session. A close under $2,409 would reopen the week’s low. The 200-period EMA at $2,558.06 on the 1h chart remains above price.
Also Read: Binance Now Holds 49% of ETH Open Interest, Highest Since 2023
