Ethereum (ETH) Price: Can $2,100 Hold as Whales Buy the Dip and CPI Data Lands?

TLDR

ETH traded near $2,120 on November 10, down 5.78% over seven days. U.S. spot Ethereum ETFs recorded $184.51 million in net outflows on November 9. A Foundation-linked wallet sold 1,000 ETH, while other whales bought. BitMine added 9,587 ETH and now holds 6,070,092 ETH. Traders are watching $2,110 support and the October CPI report.

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Ethereum traded near $2,120 on November 10, down slightly over the past 24 hours. The price has fallen 5.78% over the past seven days, while Bitcoin edged higher.

Ethereum (ETH) Price

U.S. spot Ethereum ETFs recorded $184.51 million in net outflows on November 9, SoSoValue data shows. The funds posted $651.11 million in trading volume and hold $12.07 billion in net assets.

The outflows followed about $365.2 million in withdrawals between November 2 and November 6. BlackRock’s ETHA made up $345.9 million of that week’s exits, while Fidelity’s FETH took in $15.3 million.

Traders also faced more than $462 million in liquidations on November 9, CoinGlass reported. Long positions made up about $425 million of the total.

Large Wallets Show Mixed Moves

Lookonchain reported that a wallet linked to the Ethereum Foundation sold 1,000 ETH, worth about $2.13 million, on November 10. It was the first sale from that address in two weeks.

Wallet (0xC356) withdrew 34,601 $ETH ($73.75M) from #Binance over the past 3 hours after more than 2 years of inactivity.

Is someone buying a huge amount of $ETH during the market crash?https://t.co/iK1YvmrR9n pic.twitter.com/2EciLWhw4H

— Lookonchain (@lookonchain) November 9, 2026

The analytics account said ETH had dropped another 7.7% since the wallet’s previous reported sale. The report did not show who controlled the latest transaction.

Lookonchain also tracked a wallet that had been dormant for more than two years. It moved 34,601 ETH, worth about $73.75 million, off Binance in roughly three hours.

A separate wallet, 0xFD10, borrowed $22 million in USDT on Aave. It used about $21.55 million of that to buy 10,000 ETH.

Santiment said daily stETH transactions of at least $100,000 topped 630, the highest sustained level since April. The firm said borrowing against staked Ether has risen and named $2,100 as a price area to watch.

Analyst Crypto Patel flagged a bullish setup on the two-week ETH chart. He cited three resistance retests, rising support and accumulation zones, and listed targets of $3,500, $5,000, $10,000 and $15,000.

BitMine Buys as Support Is Tested

BitMine Immersion Technologies said on November 9 that it bought another 9,587 ETH last week. Its holdings now total 6,070,092 ETH, about 4.97% of the 122.2 million ETH supply.

BitMine Nears 5% of ETH Supply After Adding 9,587 ETH

BitMine said it acquired 9,587 ETH over the past week, bringing total holdings to 6,070,092 ETH, or about 4.97% of Ethereum’s supply. The company has 5,227,037 ETH staked and said fully staking its ETH holdings could… pic.twitter.com/CELew4QyhM

— Wu Blockchain (@WuBlockchain) November 9, 2026

BitMine has staked 5,227,037 ETH, about 86% of its holdings. Its crypto, cash and other investments total about $14.3 billion.

Chairman Tom Lee wrote that the ETH price, “while disappointing, is arguably more a reflection of the impatience of markets.” He pointed to tokenization and Vitalik Buterin’s comments describing ETH as a store of value.

On the daily chart, ETH trades below its 20-day Bollinger Band middle line at $2,279.42. The lower band sits at $2,110.59, and a break below it would put $2,081.50 and $2,000 in focus.

Crypto analyst More Crypto Online identified a potential price-bottom formation inside a previously set downside target zone. The analyst said the U.S. inflation report could add volatility.

The Relative Strength Index reads 33.23, close to the 30 oversold threshold. Resistance sits at $2,200, with the upper band at $2,448.25.

$ETH seems to be forming a bullish inverse head and shoulder pattern here.

A sweep below $2,000 will complete the right shoulder formation and could bring the next leg up above $3,000. pic.twitter.com/8ZkkxUjrUC

— Ted (@TedPillows) November 9, 2026

Analyst Ted (@TedPillows) said ETH appears to be forming a bullish inverse head and shoulders pattern. He wrote that a sweep below $2,000 would complete the right shoulder and could bring the next leg above $3,000.

The Bureau of Labor Statistics scheduled its October Consumer Price Index release for 8:30 a.m. Eastern Time on November 10. ETH was trading near $2,120 ahead of the report.

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