Ethereum Rebounds from $2,290: What Would Confirm a Daily Recovery?
Last saved:
Executive Summary
- ✦ETH traded at $2,349.89 on Coinbase at 17:02:29 UTC on 29 October.
- ✦Wednesday closed below the prior $2,360.92 bullish trigger despite an intraday breakout.
- ✦Watch a daily close and retest above $2,360.92, or a close below $2,290 followed by a failed reclaim.
- ✦The next historical levels are close: costs and stop distance matter.
Ether has recovered from an intraday test of $2,290, but the bounce has not yet repaired its daily breakout attempt. For traders, the distinction is whether buyers can hold a completed close above resistance, rather than simply push through it for a few minutes.
Coinbase Exchange ETH-USD spot last traded at $2,349.89 at 17:02:29 UTC on 29 October 2026 — 23:02:29 in Bangladesh and 17:02:29 GMT in London. That was approximately 0.30% below Wednesday’s $2,356.89 UTC close. This is a timestamped last trade from a live exchange feed, not a continuously updating or guaranteed executable price. Coinbase ticker is the primary source; Yahoo Finance showed $2,350.23 at 17:02:23 UTC as a cross-check. Prices differ across venues and data methods.
What changed since yesterday’s plan?
Our 28 October Ethereum plan required a daily close above $2,360.92 and a later successful retest for its bullish scenario. Wednesday reached $2,389.59 but closed at $2,356.89. The closing condition therefore did not occur. Its bearish closing trigger below $2,293.58 did not occur either. This reviews published conditions, not executed trades or investment returns.
Thursday’s sampled candle subsequently reached $2,290.00, before recovering towards $2,350. That is a rebound from a previously observed low, not proof of a lasting bottom. Thursday remains an unfinished UTC session.
| Coinbase spot reference | US dollars per ETH | Meaning |
|---|---|---|
| 29 October last trade | $2,349.89 | 17:02:29 UTC snapshot |
| 28 October high | $2,389.59 | Completed daily resistance reference |
| 28 October close | $2,356.89 | Latest completed daily close |
| 28 October low | $2,318.92 | First recovery reference after today’s breach |
| 27 October high | $2,360.92 | Previous bullish closing threshold |
| 26 October low | $2,290.00 | Historical low retested intraday today |
| 24 October low | $2,275.94 | Further historical downside reference |
Source: Coinbase daily candles. Days run from 00:00 to 00:00 UTC. Thursday’s sampled high of $2,376.70 and low of $2,290.00 are provisional. The candle endpoint and ticker refresh separately, so their latest prices need not match.
Macro news has arrived; the daily candle has not closed
The Federal Reserve’s 28 October statement held the policy range at 3.75%–4.00%, with two dissenters preferring a quarter-point increase. The decision is already public, not an upcoming event.
Today’s September PCE release from the BEA reported headline inflation of 0.5% month on month and 3.6% year on year; excluding food and energy, the figures were 0.3% and 3.1% respectively. These are inflation rates, not changes in ETH.
Our interpretation: persistent inflation keeps the interest-rate outlook relevant to speculative assets. It does not establish that the Fed or PCE caused a particular ETH price move, nor does it dictate the next one. For a daily trading plan, the observable closing structure remains the more useful confirmation.
The Money Man View: next one to three UTC sessions
Base case: recovery inside a range. Holding above $2,318.92 would preserve part of today’s rebound, but the $2,356.89–$2,360.92 area remains the first recovery test. Repeated crossings without a clear close favour patience rather than a strong directional conclusion.
Bullish scenario. A daily close above $2,360.92, followed by a later retest that holds, would improve the recovery case. $2,389.59 is the next completed-candle obstacle. A subsequent daily close back below $2,360.92 would weaken that scenario. The distance between those levels is only $28.67 per ETH: this is not automatically an attractive reward relative to a trader’s stop distance and costs.
Bearish scenario. A daily close below $2,290.00, followed by a failed reclaim, would strengthen the breakdown case. $2,275.94 is the next historical reference, only $14.06 lower; it is an observation, not a promised target. A sustained reclaim of $2,290.00 would weaken the bearish thesis. Another brief dip that recovers before the close would leave the daily breakdown unconfirmed.
Risk and next checkpoint. The 29 October UTC candle completes at 00:00 UTC on 30 October / 06:00 Bangladesh / 00:00 GMT in London. Recheck the final high, low and close then. Spot ETH, perpetual futures and exchange-traded products have different prices, costs and leverage risks. Protective orders may slip; our bracket-order and OCO guide explains execution limitations. Longer-term investors should separate this short-term price framework from network fundamentals and portfolio concentration.
The Money Man uses AI-assisted research and writing. This is general analysis and education, not personalised investment advice. Scenarios can fail and capital is at risk. Article prices do not update automatically. The cover is an AI-generated conceptual illustration, not a chart, event photograph or forecast.