Ethereum price dips below $4,100 amid OKX volatility
On October 28, Ethereum price slid below the $4,100 mark on OKX, trading around $4,099 after a roughly 1.7% intraday drop. Despite stable trading volume, increased sell-side pressure highlights renewed market volatility. Traders are watching key support near $4,000 and resistance around $4,200 for signs of a rebound. With Ethereum price serving as a barometer for broader crypto market sentiment, monitoring macro triggers—including US economic data and Bitcoin trends—remains crucial for gauging the next ETH movement.
Bearish
The breach of the $4,100 support level on OKX, coupled with rising sell-side pressure despite stable volume, indicates a bearish short-term outlook for Ethereum price. Although a hold above $4,000 could stabilize sentiment, the lack of a strong rebound suggests further downside risks. Traders should monitor key technical levels and macro triggers, such as US economic releases and Bitcoin trends, to assess potential reversal or continuation.