At a Glance
Ether fell for a sixth straight session and now trades far below its level of a year ago.
Price sits under both its 50-day and 200-day averages, while momentum gauges still favor sellers.
Reclaiming the nearest ceiling on a closing basis would give buyers their first real foothold since the slide began.
Ether extended its losing streak this week, slipping again as recession worries and heavy selling by large holders kept pressure on the second-largest cryptocurrency.
The drop leaves ETH stuck beneath its key trend lines, with momentum readings flirting with oversold territory. Traders now want to know whether that stretched condition sparks a relief bounce, or whether sellers keep control and drag the token toward deeper support.
Ether Sheds Another 3.8% as the Yearly Loss Deepens
Ether traded near $2,232.62 at 8:15 a.m. ET on Oct. 30, down $88.20 from the prior day’s $2,320.82. That works out to a drop of about 3.8% in a single session.
The yearly picture looks worse. A year earlier, ETH changed hands around $3,804, so the token has lost roughly 41% since then. It also sits far below its record near $5,000, set in August 2025.
Ether still holds the No. 2 spot by market value, at about $233 billion. Bitcoin dwarfs it at roughly $1.33 trillion. Tether ranks third at about $183 billion and is closing in.
The weakness took hold in early 2026. Recession fears weighed on risk assets, and co-founder Vitalik Buterin sold many millions of dollars of ETH. Over the longer run, rival networks such as Solana and Avalanche remain a steady source of pressure on Ethereum’s market share.
Both Moving Averages Now Sit Overhead
Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView
Ether now trades near $2,240, flat over the past 24 hours. The pause has done little to repair the damage. The token sits below both of the moving averages that traders watch most closely.
A moving average smooths out daily swings by tracking the average closing price over a set period. When price holds above one, that average tends to act as a floor. When price falls below it, the same line often turns into a ceiling that sellers defend.
The 50-day average stands around $2,430, well above the current price. That gap shows how far the short-term trend has turned against buyers. The 200-day average, a gauge of the longer trend, sits closer at about $2,320.
Longer timeframes look similar. ETH is down about 16% over the past month, near the bottom of its 30-day range. The weekly loss of roughly 6% confirms the drift lower over recent sessions.
Any recovery must first clear the 200-day line. It lies only a few percent above the market, so a modest bounce could test it. Closing back above it would be the first sign that buyers are regaining ground.
Sellers Keep the Upper Hand Despite Oversold Signals
RSI, a 0 to 100 gauge of momentum, reads about 31 on the daily chart. Readings under 30 count as oversold, so Ether sits right at the edge of that zone. Stretched readings like this often come before a short relief bounce.
An oversold gauge does not mark a bottom by itself. Prices can stay depressed for weeks while sellers keep pressing. A reversal usually needs buyers to show up with real volume first.
Other signals still favor the bears. The MACD, which compares short and longer price trends, remains below its signal line. That means downside momentum has not faded yet.
Trend strength readings also point to a genuine downtrend driven by sellers. Any bounce from here would be moving against that current.
Where $2,360 and $1,940 Fit In
On the daily chart, the nearest ceiling sits around $2,360. That level caps the recent bounces and lies just above the 200-day line. Closing above it would mark the first real shift in control.
Clearing that barrier would open the way toward $2,560, the next resistance. A move there would bring price back near the 50-day average and ease much of the recent selling pressure.
The downside looks less comfortable. The first solid floor appears near $1,940, which leaves a wide gap below the current price. Sellers have plenty of room to push lower before buyers face a serious test.
If that floor gives way, the next support waits around $1,850. Losing both levels would push Ether toward prices it has not seen in a long stretch.
Two Paths for the Next Three Days
Ether’s next move likely depends on how price behaves near the 200-day line.
Bullish: An oversold bounce lifts ETH back above the 200-day average and produces a daily close over the nearest ceiling. That would put the next resistance in play. The setup fails if price slips back under the 200-day line.
Bearish: Sellers turn the token away below that ceiling and drag it toward the first floor. A break there would aim at the next support. A close above the nearest resistance would cancel this view.
The Burden of Proof Rests With Buyers
Until Ether closes back above its nearest ceiling, the trend belongs to sellers. So far, buyers have not proved otherwise.
Traders on both sides face risk. Oversold conditions can spark sudden short squeezes that punish late bears. Fresh recession worries or more selling from large holders could just as quickly send the token lower.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
