Ethereum Drops Nearly 10% in October as Analysts Point to Key Technical Levels
Ethereum (ETH) has dropped nearly 10% in October, setting the digital asset on track for its third consecutive negative October. The token was recently trading around $2,375, down about 1% over the past day. The pullback follows a solid summer performance in which the cryptocurrency posted gains of 32.53% in August and 8.77% in September, leaving prices roughly 30% above the end-of-July levels.
The recent decline highlights relative weakness against Bitcoin (BTC), with the ETH/BTC exchange ratio falling to roughly 0.0294 BTC. Historical data shows October typically delivers flat returns for Ethereum, with a median monthly gain of just 0.08%. Analysts note that the token is caught between conflicting technical signals, exhibiting a possible bullish divergence while simultaneously struggling against overhead resistance levels.
Market observers are watching technical thresholds closely. A weekly close below $2,450 could trigger an additional pullback toward the $2,357 support region, with overhead resistance situated near $2,802. Analysts suggest that while short-term momentum remains muted, lower price levels may offer long-term value for investors looking to accumulate.
Key points
- Ethereum (ETH) has fallen nearly 10% in October, placing it on track for a third straight monthly decline during October.
- The cryptocurrency trades near $2,375, remaining about 30% higher than its end-of-July close despite recent losses.
- Technical analysts identify initial chart support around $2,357 and resistance near $2,802, with a potential pullback if weekly prices finish under $2,450.
- Ethereum has underperformed Bitcoin recently, with the ETH/BTC trading pair slipping to approximately 0.0294 BTC.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why is Ethereum price falling in October 2026?
Ethereum has declined nearly 10% in October, continuing a trend of weak performance in October where historical median returns sit at 0.08%. The token has also been losing ground relative to Bitcoin.
What are the key price support and resistance levels for Ethereum?
Chart analysts highlight key support around $2,357 and overhead resistance near $2,802. A weekly close below $2,450 could signal further near-term downside risk.
How is Ethereum performing compared to Bitcoin?
Ethereum has underperformed Bitcoin recently, with the ETH/BTC ratio sliding to approximately 0.0294 BTC after peaking in September.