Ethereum Drops 4.07% on October 24, 2026, Downward Pressure Intensifies

On October 24, 2026, the cryptocurrency Ethereum (ETH) recorded a decrease of 4.07%, closing at 2,295.88 dollars, according to data from DiarioBitcoin. This drop, occurring in a context of trading volumes lower than the monthly average, reflects increased selling pressure and persistent uncertainty surrounding the "Glamsterdam" project, although its direct impact on the price remains unconfirmed. Context Ethereum, the second largest market capitalization in the crypto-asset market after Bitcoin, has been undergoing a marked correction phase since the beginning of 2026. With a decline of 22.7% since January and 14.31% over the last thirty days, the cryptocurrency is struggling to regain technical support levels. Short- and medium-term moving averages, traditionally used as benchmarks by traders, have been crossed to the downside, signaling negative momentum. At the same time, the relative strength index (RSI) is approaching the oversold zone, a level often interpreted as a sign of seller exhaustion. The market also remains influenced by external factors, notably the announcement of the postponement of the "Glamsterdam" project, a major update to the Ethereum network. Although this postponement raises questions about the protocol's technical roadmap, no tangible evidence directly links this event to the decline on October 24. On the other hand, network activity, measured by the cost of "gas" (0.323 gwei according to CryptoScore Pro), remains moderate, ruling out congestion as an aggravating factor. The Facts The available data, from DiarioBitcoin and CryptoScore Pro, provide a precise picture of the session on October 24, 2026: The price of Ethereum fell by 4.07% to reach $2,295.88 at close, according to DiarioBitcoin. However, a divergence appears in the calculations: the variation relative to the opening price ($2,390.54) would be -3.96% , and -3.57% relative to the previous day's closing price ($2,380.85). This difference, unexplained by the sources, suggests considering the 4.07% figure as reported data rather than a consolidated calculation. Trading volume amounted to $9.38 billion , which is 20.54% less than the monthly average of $11.8 billion. The volume/market cap ratio stands at 3.35% , compared to an average of 4.21%, signaling reduced trader participation. Ethereum's market capitalization stands at $280.46 billion , after a decline of 14.31% over one month and 22.7% since January 1, 2026. On a technical level, the price is below the 7, 15, 30, 50, and 90-day simple moving averages (SMA), but remains above the SMA-200 ($2,154.58), a key level for long-term investors. The 14-day RSI stands at 31.2 , close to the oversold zone (generally set at 30). Several elements remain unconfirmed or incomplete. DiarioBitcoin mentions the postponement of the "Glamsterdam" project due to risks related to smart contracts, but without establishing a causal link with the day's decline. Furthermore, no data is available on perpetual contract funding rates, open interest, liquidations, or institutional flows, limiting the analysis of the root causes of the movement. Finally, the launch of markets on Aave V4, while positive for the DeFi ecosystem, had no visible impact on the price during this session. Understanding Key Concepts Simple Moving Averages (SMA) Simple Moving Averages (SMA) are technical indicators calculated by averaging prices over a given period (for example, 7, 20, or 200 days). They smooth out daily fluctuations to reveal the underlying trend. A price located below an SMA is often interpreted as a bearish signal, while an upward crossover can indicate a reversal. For example, if the price of Ethereum falls below its SMA-200 (2,154.58 dollars), it could alert investors to a structural weakening. Relative Strength Index (RSI) The RSI is an oscillator measuring the speed and magnitude of price changes on a scale from 0 to 100. An RSI below 30 signals an "oversold" condition, suggesting that the asset may be undervalued and likely to rebound. Conversely, an RSI above 70 indicates an "overbought" condition, often associated with a risk of correction. In the case of Ethereum, an RSI of 31.2 on October 24, 2026, approaches this critical threshold, without necessarily guaranteeing an immediate reversal. Gas and gwei "Gas" is the unit of measurement for transaction fees on the Ethereum network. Its cost, expressed in "gwei" (1 gwei = 0.000000001 ETH), reflects network congestion: the higher the demand, the higher the fees. A standard gas price of 0.323 gwei, as observed on October 24, indicates moderate activity without major bottlenecks. For comparison, during the peaks of 2021, this cost exceeded 100 gwei, making transactions expensive for users. Trading Volume and Liquidity Trading volume represents the total amount of assets exchanged over a given period. High volume signals strong investor participation and increased liquidity, facilitating transactions without a major impact on the price. Conversely, a below-average volume, such as the 9.38 billion dollars recorded on October 24, can indicate trader caution or a lack of a clear catalyst, amplifying volatility. Analysis: what is at stake Ethereum's 4.07% decline on October 24, 2026, occurs within a context of selling pressure amplified by technical and psychological factors. From a mechanical standpoint, the breach of short- and medium-term moving averages (7, 15, 30, and 50 days) signals a loss of bullish momentum, while trading volume below the monthly average ( 9.38 billion dollars versus 11.8 billion , according to source data) suggests reduced liquidity, limiting rebound opportunities. The RSI at 31.2, close to the oversold zone, indicates a potential exhaustion of sellers, but without a guarantee of an immediate reversal. Regarding flows, the absence of data on funding rates or open interest prevents an assessment of the impact of derivative positions, while gas stability at 0.323 gwei (CryptoScore Pro) rules out network…