Ethereum (ETH) slipped to $2,371, a decline that came on the heels of the Nasdaq's worst day since June.

The move was detailed in a COINOTAG update published at 14:15 UTC on Oct. 24, 2026, which reported that Ethereum's technical picture had deteriorated further. According to the update, the most recent rebound attempt stalled inside the $2.44K to $2.52K supply zone, and ETH is now trading below the lower boundary of its broader ascending channel.

In technical analysis, an ascending channel is a chart pattern bounded by two parallel upward-sloping trendlines, with the lower line typically serving as dynamic support. A break beneath that lower boundary is generally read by chartists as a failure of the pattern's upward structure. A supply zone, meanwhile, describes a price range where selling interest has previously emerged in force; rallies that re-enter such an area often lose momentum as sellers become active again. Chartists tracking such a breakdown typically watch the broken boundary itself in subsequent sessions, since a move back above the trendline is often read as a reclaim of the pattern's lost support, while continued rejection beneath it is taken as confirmation that the breakdown has taken hold.

The Nasdaq Composite, a technology-heavy index of US-listed stocks, is closely watched by digital-asset market participants, as cryptocurrency prices have in recent years frequently moved alongside US equity benchmarks during periods of broad market stress.

Ethereum is the native asset of the Ethereum blockchain and ranks as the second-largest cryptocurrency by market value.

This content was first published on COINOTAG: https://en.coinotag.com/ethereum-eth-slips-2371-after-nasdaq-worst-day