Ethereum Price Prediction: ETH Dipped Below $2,300 This Week. Where Is the Next Floor?
Ethereum just broke through a level investors counted on to hold, and the next stop down is closer than most realize. Two converging pressures are making a recovery harder than the charts alone suggest.
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Ethereum (CRYPTO: ETH) fell below $2,300 on October 24, 2026, hitting a low of $2,276—its lowest price in the past month. The cryptocurrency recovered slightly to $2,335 on October 25, but many investors had seen the $2,300 level as reliable support.
October has been a tough month for ETH, down 12.2% after climbing to $2,777 on October 2. The asset has dropped 20.6% in 2026 and a significant 40.4% from last year, trading 52.8% below its all-time high. With this decline, the key question for any Ethereum price prediction is: where might buyers step back in?
ETH Trades Below Its 20-Day and 50-Day Averages
A moving average represents the average closing price over a specified period, helping traders assess market trends. Currently, ETH is trading below its 20-day moving average of $2,473 and its 50-day average of $2,546, suggesting sellers are dominating the short-term market. This comes even after Tom Lee suggested that ETH’s downward trend relative to Bitcoin might be ending.
However, there’s a silver lining; ETH has gained approximately 23.5% over the past 90 days, rising from $1,891 on July 27. ETH’s 2026 low of $1,505 on June 6 remains well below the current price.
The August 20 Low of $2,220 Is ETH’s First Support
Before the recent drop, ETH hadn’t traded below $2,276 since August 20, when it hit a daily low of $2,220—roughly 5% below its current value. This makes it the first noteworthy support level below the current price.
The preceding day’s surge adds significance to this. ETH started on August 19 at $1,917 and ended at $2,252 on high volume, suggesting little trading activity between $2,220 and the August 18 close of $1,917. Hence, fewer buyers are coming in from this zone, meaning ETH could quickly decline if it breaks below the August 20 low.
If it drops below $2,220, traders will focus on the 90-day low of $1,820 from August 1, a major support level. The gap between these two points is considerable, so traders will likely prioritize the August levels in between.
Glamsterdam Delay Leaves Ethereum Waiting for an Upgrade
Ethereum’s next significant upgrade, known as Glamsterdam, was scheduled to go live on October 26 on the Hoodi test network, where upgrades are tested before being implemented on the main network. However, developers decided to postpone this activation during the All Core Devs call on October 22, following security concerns raised by ChainSecurity over two gas-pricing proposals—EIP-8037 and EIP-8038—that could potentially cause permanent errors in smart contracts.
As of now, the Ethereum Foundation has not set a new date for the Hoodi upgrade or confirmed when it will reach the main network. Establishing a fresh test date could give investors something to rally around; however, a prolonged delay might leave ETH without an upgrade catalyst before the year ends. Historically, past upgrades have not significantly boosted prices.
Spot Ether ETF Outflows Put Pressure on ETH
Spot Ether ETFs, which are funds backed by real ETH available for purchase through regular brokerage accounts, saw $110.5 million in net outflows on October 22, according to SoSoValue, with total net assets at $14.6 billion. Inflows and outflows for October 23 and 24 have not yet been reported.
Throughout much of October, outflows have dominated, totaling $201.9 million on October 6 and $160.8 million on October 7, while inflows were minimal, at $24.8 million on October 13 and $15 million on October 21. Consequently, cumulative net inflows have decreased from $13.96 billion on September 28 to $12.71 billion by October 22.
Where Is the Next Floor in Our Ethereum Price Prediction?
Our prediction suggests ETH will likely retest the August 20 low of $2,220 before finding solid support. ETF outflows have been significant through October, and with no new date for the Glamsterdam upgrade, there’s a risk of falling below $2,220, which could send ETH down through the thin trading zone towards $1,917—the starting point of the August rally—with $1,820 marked as the strongest support below that.
For a turnaround, ETH must first reclaim its 20-day average of $2,473, about 6% above its current level, and hold it while seeing several consecutive days of net inflows into spot Ether ETFs. Only after reaching these conditions could ETH target its 50-day average of $2,546, with a daily close above $2,473 and positive ETF flows signaling that the downward trend may have halted.
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Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.
