Ether (ETH), Ethereum's native token, dropped more than 3% to around $2,605 on October 7, extending its pullback from a September high near $2,800. However, technical indicators such as the oversold four-hour RSI and repeated rebounds off the 200-period exponential moving average suggest the decline may be nearing exhaustion. Historically, similar setups have led to rallies of 19% to 35%. Additionally, a bullish falling wedge pattern and significant short liquidation zones above current prices support the possibility of a rebound toward $2,800-$3,000, provided ETH holds the crucial $2,580-$2,600 support level. A break below this support could lead to further downside risk.
Ethereum trades at Rp46,145,962 on Pluang as of October 7, 2026, 17:42 WIB, showing a 4.84% decline in the last day. This aligns with the article's note of a price drop to around $2,605, indicating a notable pullback from recent highs. Pluang data also reveals a strong sell sentiment with 75% of order activity on the platform being sell orders, reflecting cautious market behavior despite technical signals hinting at a potential rebound.
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