ETH/USDT · 1D · 23 Oct 2026
Ethereum (ETH) price analysis — daily chart
Key levels
| Level | Price | From price | Role |
|---|
| Monthly open | 2,683 | +11.1% | calendar, fib |
| Golden pocket | 2,602 | +7.8% | golden pocket, sr |
| Fib retracement | 2,548 | +5.5% | fib, sr |
| 2-TF resistance | 2,524 | +4.5% | confluent, calendar |
| Order block | 2,487 | +3.0% | order block, calendar |
| Volume POC | 2,437 | +0.9% | poc, fib |
| Fib retracement | 2,428 | +0.5% | fib, sr |
| 3-TF support | 2,399 | -0.6% | confluent, golden pocket |
| 3-TF support | 2,359 | -2.3% | confluent, order block |
Executive Summary
ETH is in a 2,399–2,524 box, and price has dropped to the 2,399 floor. Bitcoin's daily chart is ranging — range edges have held more often than they have broken. What argues for higher: price is inside a bullish order block at 2,359–2,437. What argues for lower: the drop has given back all of the rally before it — buyers did not hold it, and the weekly trend is down. No single reason settles it, but taken together the evidence leans lower (53% against 40%). New shorts are coming in as price falls while price is sitting on the floor at 2,399 — shorts this close to a floor are either early to a breakdown or fuel for a squeeze, and the floor decides which. The total crypto market cap is down 2.3% over the last 24 hours. Price was rejected back under the average price sold since the high (the swing-high anchored VWAP) — sellers from the high are back in control. Price is sitting right on support 2,399, the lower edge it has to hold, with 2,524 as the ceiling.
Key Levels
The ceiling is 2,524 (2-TF resistance) — until price closes and holds above it, rallies keep running into the same sellers. Overhead is a band, not a line — 2,548 (Fib retracement) sits just above the ceiling 2,524, so a clean upside resolution has to clear the group. Below, 2,399 (3-TF support) is the floor — a close that holds under it and the structure opens up. Beyond the box, the next levels are 2,602 (Golden pocket) above and 2,325 (2-TF support) below.
Bull Case
At 40%, this needs a close and hold above 2,524. From there the road runs to 2,602 (Golden pocket) then 2,683 (Monthly open). It fails on a close and hold below 2,399.
Bear Case
This path is 53% and it starts with a close and hold below 2,399. That opens 2,325 (2-TF support) then 2,265 (Swing low). It fails on a close and hold above 2,524.
Sideways Case
At 7%, price keeps rejecting both edges of 2,399–2,524 and the range holds.
What to Watch Next
A dip below 2,399 that closes back above it traps those shorts — that is the squeeze case, back toward 2,524. A close below 2,399 that holds, with open interest still rising, means the shorts were right and the move continues down. The way to get this wrong: shorting into 2,399 after the crowd already has — wait for the close below it, or for the dip that fails.
Updated 23 Oct 2026. Run a live Ethereum read →
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