Ethereum CFN

  • ETH trades near $2,335 with RSI at 38.93 and a negative MACD histogram, while support is around 2,300–2,330.

  • Michael van de Poppe identifies $2,320 and $2,230 as potential long-entry levels if Ethereum faces further downside.

  • Crypto Patel highlights $0.004 gas fees as Glamsterdam approaches a Hoodi testnet milestone, with security and compatibility still under review.

Ethereum trades near $2,335 as bearish momentum pushes ETH toward $2,300 support, while analysts watch potential entry levels and network developments. Michael van de Poppe identified $2,320 and $2,230 as possible long positions during market weakness. Meanwhile, Crypto Patel highlighted $0.004 gas fees, while developers approach a Glamsterdam testnet milestone.

ETH Tests Support as Technical Indicators Remain Bearish

The four-hour ETH/USD chart on Binance shows Ethereum down 0.45% on the latest candle, trading at $2,335.30. The candle opened at $2,332.06, reached $2,335.30, and recorded a low of $2,332.05.

Ethereum Faces $2,300 Test as Glamsterdam Nears TestnetSource: TradingView

Ethereum traded between $2,650 and $2,750 during late September and early October, briefly approaching $2,780. However, a breakdown around October 7 pushed ETH below $2,600 and toward $2,430. A rebound near October 12 lifted the price toward $2,550, but the recovery failed to hold.

Further selling in mid-October drove ETH toward $2,350. Another rebound reached approximately $2,500 around October 21 before sellers pushed prices lower again. The Relative Strength Index is at 38.93, below its signal average of 40.47. 

Meanwhile, the MACD line is at -22.04, below the -18.52 signal line, with a negative histogram of -3.52. Immediate support sits between $2,300 and $2,330, while resistance appears around 2,400–2,430. A further decline could expose $2,250.

Van de Poppe Identifies Two Potential ETH Entry Levels

As Bitcoin falls and market fear increases, Michael van de Poppe highlighted two Ethereum price levels. He described prices below $2,320 as an interesting area for long positions.

He also identified approximately $2,230 as another potential entry if markets experience a deeper price wick. These levels place his analysis below Ethereum’s current price of $2,335.30.

Crypto Patel Highlights Low Fees as Glamsterdam Nears

Crypto Patel reported Ethereum gas fees had fallen to $0.004, raising questions about the network’s transaction costs compared with Solana. The analyst pointed to low fees and expanding Layer-2 adoption while questioning whether Ethereum could maintain those costs during periods of rising demand.

https://twitter.com/CryptoPatel/status/2114016567268929924?s=20

Separately, Glamsterdam is approaching a Hoodi testnet milestone. The upgrade discussion focuses on the changes developers are testing, potential security or compatibility risks, and whether the changes deliver their intended improvements.