ETHFI pulled back roughly 6.5% on October 1, 2026, after failing to hold a move toward $0.81–$0.82. The token traded near $0.733 on Coinbase’s daily chart at 14:07 UTC, bringing the lower boundary of its rising formation into focus. The first support test sits near $0.69–$0.70, with additional references at $0.64–$0.65, the 50-day simple moving average near $0.614, and earlier September lows around $0.58–$0.60. A rebound from the trendline could support a recovery toward $0.75–$0.78 and another attempt at the rejected $0.81–$0.82 zone. A close below the line followed by a failed reclaim would signal further weakness, potentially dragging ETHFI toward lower support levels.
Ether.fi’s broader business has expanded beyond restaking. Its August 13 app release added tokenized asset trading, portfolio-backed borrowing, and payment connections, supporting a crypto neobank branding even though Ether.fi states it is not a bank. CEO Mike Silagadze also cited weak additional yields and perceived risks as reasons for retreating from EigenLayer restaking in late September, while ordinary Ethereum staking remains available through eETH and weETH. ETHFI demand is tied to a buyback programme funded by withdrawal fees and part of protocol revenue, but acquired tokens go to stakers or liquidity rather than being permanently burned. 21Shares launched a physically backed ETHFI ETP on September 22, though the listing alone cannot explain the rally since demand depends on investor purchases.
Ethereum was trading near $2,678–$2,683, approaching the long-watched $2,800 resistance zone. Analysts view the $2,650–$2,900 range as a key area. Daan Crypto Trades emphasized weekly closes between the weekly 200 moving averages and the $2,800 horizontal level, while Gerla expects an acceleration if Ethereum clears the zone, with a larger target of $4,800–$5,200. The daily chart shows support at the 0.786 Fibonacci retracement near $2,592, followed by resistance at $2,962 and $3,222. Momentum indicators are mixed: RSI is at 61.28, above neutral but below overbought, while MACD histogram is negative at about -9.6, suggesting cooling momentum. A break below $2,592 could shift attention toward $2,500 and more bearishly $2,120.
