Ethereum (ETH) is trading at $2,355 as of early Thursday, October 29, 2026, resting almost directly on the long-term moving average near $2,320 that has underpinned its structure since the summer, according to COINOTAG's live monitoring.

COINOTAG's data puts ETH up 0.4% over the past 24 hours and down 0.2% on daily readings, leaving the asset pinned close to the technical level following its slide from the $2,800 area. With spot prices and the long-term average now converging, the $2,320 zone and the $2,800 area from which the recent decline began stand out as the reference points on ETH's chart.

Why the $2,320 Level Matters

Long-term moving averages are among the most widely referenced tools in technical analysis. By smoothing out short-term price fluctuations, they are commonly used to assess whether an asset is trading in line with its broader structural trend. Points where spot prices converge with such averages frequently draw attention from market participants tracking trend direction.

That framing applies directly to Ethereum's current position: after the slide from $2,800, the asset sits almost exactly on the average that has shaped its structure since the summer, making the $2,320 zone a focal point for anyone tracking whether ETH continues to trade in line with its longer-term trend.

About Ethereum

Ethereum is the native asset of the Ethereum blockchain, a leading smart-contract platform. The network moved from proof-of-work to proof-of-stake consensus in September 2022 through an upgrade known as The Merge. ETH is used to pay network transaction fees and, following the transition, can be staked by validators who help secure the chain.

This content was first published on COINOTAG: https://en.coinotag.com/ethereum-holds-2320-long-term-average-after-slide-from-2800