Ethereum remains bearish on the 4-hour chart, with the displayed price at 2,326.90 following rejection from wave X/(c) near 2,523.20. The Elliott Wave count preserves the completed W-X structure and the subsequent decline labeled blue i and ii, with wave iii projected downward. Price remains below the earlier corrective highs, confirming persistent selling pressure. Since the previous October 26 report, the updated chart adds a 50.0% Fibonacci retracement near 2,360, while price and wave structure remain effectively unchanged. The blue projection anticipates a temporary rebound toward this resistance before renewed weakness toward approximately 2,240. The annotated 2,290.40 level remains the immediate downside reference, while 2,523.20 is the broader invalidation level.
Technical Summary of Ethereum Price for October 26, 2026
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Trend: Bearish.
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Current Elliott Wave: Blue wave ii labeled; wave iii projected downward.
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Key Support Levels: 2,290.40 (annotated downside reference); 2,240 (projected).
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Key Resistance Levels: Approximately 2,360 (50% Fibonacci); 2,523.20.
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Next Price Target: 2,290.40, followed by approximately 2,240.
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Invalidation Level: 2,523.20 (annotated).
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Fibonacci Levels: 50.0% retracement near 2,360, projected rebound resistance.
Trader's Question: Can Ethereum complete its rebound before wave iii extends lower?
A rejection near the 50% Fibonacci retracement would support renewed selling pressure, with a sustained break below 2,290.40 strengthening the projected decline.