Ethereum (ETH) is trading near $2,335 as bearish momentum pushes the asset toward the $2,300 support zone. Market analysts are monitoring potential entry levels should weakness persist, while Ethereum developers approach a key testnet milestone for the network's upcoming Glamsterdam upgrade, with security and compatibility considerations still under review. Analyst Michael van de Poppe has flagged two downside levels for potential long entries, while fellow analyst Crypto Patel has drawn attention to Ethereum's falling gas fees.

Technical Indicators Point Lower as ETH Defends $2,300

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

Ethereum traded between $2,650 and $2,750 during late September and early October, briefly approaching $2,780. A breakdown around October 7, however, 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, and another rebound reached approximately $2,500 around October 21 before sellers pushed prices lower again.

Momentum indicators remain in negative territory. The Relative Strength Index stands at 38.93, below its signal average of 40.47, while the MACD line is at -22.04, beneath its signal line of -18.52, 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 the $2,250 level. That support band and the downside levels flagged by analysts are the reference points in focus as ETH defends $2,300.

Van de Poppe Flags $2,320 and $2,230 as Potential Long Entries

As Bitcoin falls and market fear increases, analyst Michael van de Poppe highlighted two Ethereum price levels for potential long positions. In a post on X, he described prices below $2,320 as an interesting area for long entries and identified approximately $2,230 as another potential level should markets print a deeper price wick.

Both levels sit below Ethereum's current price of $2,335.30.

Crypto Patel Highlights $0.004 Gas Fees as Glamsterdam Testnet Nears

Separately, analyst Crypto Patel reported that Ethereum gas fees had fallen to $0.004, raising questions about how the network's transaction costs compare with Solana's. He pointed to the low fees and expanding Layer-2 adoption while questioning whether Ethereum can maintain those costs during periods of rising demand.

Transaction costs have long been a competitive battleground between Ethereum and faster, lower-cost blockchains, which helps explain why fee readings draw scrutiny even during price drawdowns.

Meanwhile, the Glamsterdam upgrade is approaching a milestone on the Hoodi testnet. Glamsterdam is the next scheduled hard fork on Ethereum's roadmap, following Fusaka, and Hoodi is a public testnet where proposed protocol changes are rehearsed before any mainnet activation — a staging process intended to surface bugs and verify that execution and consensus clients remain compatible. Headline candidates under discussion for Glamsterdam have included enshrined proposer-builder separation (ePBS) and block access lists. The upgrade discussion centers on the changes developers are testing, potential security or compatibility risks, and whether the changes deliver their intended improvements. Testnet progress is typically a prerequisite for setting a mainnet timeline, making the Hoodi milestone a development marker to track separately from short-term price movement.

Source: Cryptofrontnews