TLDR
- ETH trades near $2,367 on Oct. 24, sitting on a rising trendline that has held since the summer low.
- U.S. spot Ether ETFs saw $4.4 million in inflows on Oct. 23, ending a $110.6 million withdrawal the day before.
- Ethereum developers delayed the Oct. 26 Glamsterdam testnet activation over security concerns tied to EIP-8037.
- Daily RSI is 37.18 and MACD is negative, showing sellers still hold short-term momentum.
- Analyst Ted Pillows says a daily close below $2,350 could send ETH toward $2,200-$2,250.
Ethereum (ETH) is trading around $2,367 on Oct. 24 after another dip brought the price back to a key rising support line. ETH opened near $2,384 and fell to about $2,356 before a small recovery. The token was down about 0.7% when the chart was captured.
The price has dropped from a late-September high near $2,800. Even so, the recovery that began in June has not fully broken. ETH sits almost directly on the trendline that has supported it since the summer low.
Analyst Ted Pillows said ETH is now at the $2,350 support zone. He warned that a daily close below that level could push Ethereum toward $2,200-$2,250.
$ETH is now at the $2,350 support zone.
A daily close below this could dump Ethereum towards $2,200-$2,250. pic.twitter.com/UYG5RF93bu
— Ted (@TedPillows) October 24, 2026
Chart Analysis
Looks like ETH is sitting right on the line that bulls need to defend. The $2,330-$2,380 zone mixes the rising trendline with old resistance from the mid-$2,300s. If buyers hold it, a bounce toward $2,450-$2,500 is on the table.
Momentum still leans bearish. The daily RSI is 37.18, close to oversold but above 30, and the MACD line near -50.4 sits below its signal line at -40.9. Watch the $2,350 level next, since a clean break could open the way to $2,250-$2,300.
ETFs Return to Inflows
U.S. spot Ether ETFs recorded $4.4 million in net inflows on Oct. 23. That ended the prior day’s $110.6 million withdrawal. Fidelity’s FETH took in $3.6 million, and Morgan Stanley’s MSSE added about $800,000.
The gain is small next to recent outflows. Over the five sessions through Oct. 23, the funds saw about $220.7 million leave. The past 30 trading days produced more than $1 billion in withdrawals.
Still, the funds hold about 5.9 million ETH, or roughly 4.8% of circulating supply. Cumulative net inflows since launch stand near $12.75 billion.
On-Chain Activity and the Glamsterdam Delay
Network use remains high. Ethereum has about $49.2 billion in DeFi total value locked and around $143.5 billion in stablecoins. It also logged more than 540,000 active addresses and about 1.89 million transactions in the past day.
Liquidity is weaker. Stablecoin supply slipped about 0.6% over seven days, and weekly DEX volume fell roughly 13%. ETH supply grew by about 86,800 ETH over 30 days as issuance topped burns.
Staking also affects supply. About 43.8 million ETH sits in the active validator balance. Bitwise data put roughly 36% of total supply in staking at the end of Q3.
Developers postponed the Oct. 26 Glamsterdam activation on the Hoodi testnet. Researchers found possible problems with EIP-8037 and how it interacts with existing smart contracts. The Ethereum Foundation said more time is needed, and no new date has been set.
The delay affects testing, not the Ethereum mainnet. On the upside, ETH must reclaim $2,500 first, followed by $2,600 and the $2,700-$2,800 area.
