TLDR
- ETH trades near $1,940 and stays below the $2,000 mark.
- US October PPI rose 6.5% year over year, the highest since November 2022.
- Spot ETH ETFs logged a sixth straight day of outflows, totaling $70.5 million.
- A whale wallet bought 10,380 ETH and now holds 25,498 ETH.
- Analysts watch $1,850–$1,950 as a key demand zone, with $1,827 as the next support.
Ethereum is trading near $1,940 on Friday. The price has stayed below $2,000 after a fresh round of US inflation data.
The Producer Price Index rose 6.5% year over year in October. That is the highest reading since November 2022, though it came in just under the 6.6% forecast.
Monthly PPI growth was 0.3%, below the 0.4% estimate. Core PPI, which leaves out food and energy, came in at 5.0% and matched forecasts.
BREAKING: October PPI Inflation rises to 6.5%, its highest level since November 2022.
Core PPI Inflation was 5.0%, in-line with expectations of 5.0%.
CPI, PPI, and PCE inflation continue to push higher in the US.
All signs point toward a December rate hike.
— The Kobeissi Letter (@KobeissiLetter) November 13, 2026
The report supported bets on a Federal Reserve rate hike in December. Odds of a quarter-point increase now sit above 89%.
Stocks and Fund Flows Weigh on ETH
Crypto has also tracked weakness in AI-linked stocks over the past year. Nvidia CEO Jensen Huang resigned on Thursday after reports of an affair, which sparked a sell-off in that sector.
The S&P 500 fell 0.4% on Friday, while the Nasdaq Composite dropped 0.9%. Ether moved lower along with them.
MSCI also said it will remove Strategy from its MSCI USA Index by November 30. JPMorgan analysts estimate the move could lead to $2.8 billion in outflows for the firm.
US spot ETH exchange-traded funds saw $70.5 million leave on the latest session, according to SoSoValue. It was the sixth day in a row of net outflows.
Source: https://t.co/Hj2Gs49bWa
— Wu Blockchain (@WuBlockchain) November 14, 2026
Ether has also slipped under the average on-chain cost basis of every wallet group. The $2,123 and $1,780 levels mark the average entry prices of wallets holding 10,000 to 100,000 ETH and more than 100,000 ETH. Those groups hold 21.6 million ETH together.
On the daily chart, price sits below the 20-day, 50-day and 100-day moving averages, which cluster between roughly $2,200 and $2,320. The Relative Strength Index is near 25, and the Stochastic reading is around 10. Both point to stretched selling.
$ETH is losing every support zone like it's nothing.
Now, Ethereum needs to reclaim $2,000, or else it's going to $1,700. pic.twitter.com/AzeKESnk2Z
— Ted (@TedPillows) November 14, 2026
Analyst Ted Pillows said on X that ETH is losing support zones quickly. He wrote that Ethereum needs to reclaim $2,000 or risk a move toward $1,700.
Immediate resistance sits at $1,971, followed by $2,101 and $2,204. A stronger barrier appears near $2,250.
If ETH cannot recover $1,971, support may come at $1,827. Below that, traders watch $1,706 and $1,600.
Whale Buys Despite Paper Losses
On-chain data shows large holders are still active. Lookonchain reported that wallet 0x4cee bought another 10,380 ETH, worth about $19.91 million.
The wallet now holds 25,498 ETH, valued near $49.44 million. Its average purchase price is about $2,382 per ETH, which leaves an unrealized loss of roughly $11.3 million.
The same wallet earlier made $3.66 million in profit by buying and selling 10,500 ETH. The reason behind the latest purchase has not been stated.
Crypto analyst DON named $1,850–$1,950 as a key demand zone. He noted the area held in both March and August.
DON also outlined a possible 5% drop on the three-day chart toward $1,952. He added that a descending trendline from Ethereum’s 2025 peak meets the $1,550 range floor in about 290 days.
If the zone holds, DON sees a recovery toward earlier range highs and then a longer-term target of $8,580. He said a three-day close below $1,550 would cancel that setup.
For now, ETH sits just under $2,000, with $1,971 as the first resistance and the $1,850–$1,950 zone in focus.
