Yahoo Crypto Market • October 10th 2026, 5:29 PM
Ethereum Price Prediction: ETH May Dip to $2,300 Before the Rally Resumes
Key Summary
Ethereum's price may dip to $2,300 due to reduced liquidity and concerns over a $90 million Ledger cold wallet hack, but a strong pullback could lead to a resumption of the rally. Trading volumes have declined by 58% in the past 24 hours, and investors are ignoring the news, indicating a need for the market to tap into lower price zones for sustained growth.
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Ethereum Price Prediction: ETH May Dip to $2,300 Before the Rally Resumes
Current Market Trends
Ethereum's price has bounced strongly off a former area of resistance at $2.4K, now acting as support as selling pressure appears to be easing. Trading volumes have declined by 58% in the past 24 hours, with current levels sitting at just $5.2 billion, accounting for 1.7% of the market. This indicates a significant decrease in liquidity.Implications of the Ledger Hack
The $90 million hack of Ledger cold wallets has significant implications for the public's perception of secure cryptocurrency storage. The company acknowledged the incident in an X post, stating that cold wallets bought from a reseller called CryptoBillis in Europe appear to have been targeted by bad actors.Market Reaction
Despite the news, the crypto market has recovered slightly after two days of strong losses. A recent Ethereum price prediction highlighted a strong pullback to $2,400, which was likely due to exchange-traded funds (ETFs) linked to ETH experiencing strong net outflows between September 29 and October 5.Conclusion
The market needs to tap into lower price zones to sustain growth. Investors are ignoring the news, and the decline in trading volumes suggests a need for the market to recover and regain momentum.#Ethereum#ETH#Crypto#US