As seen on the 24/7 Wall St. homepage on November 6, 2026.
Ethereum's 7.75% single-day slide to $2,234.61 undoes weeks of grinding recovery and drops it back near the lows it has bounced off repeatedly this year. Holding that zone is the next thing to watch.
Ethereum closed at $2,234.61 on November 5, down 7.75% in a single session, damage that compresses weeks of hard-won recovery into one painful day.
The level Ethereum landed on matters as much as the drop: buyers stepped in repeatedly in this general area earlier this year, bouncing the price each time before sellers could press lower. Whether that demand reappears now decides if the support holds.
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The broader trend heading into this drop had been encouraging, with Ethereum recovering over months of incremental gains. Thursday's move erased a substantial portion of that work in hours, which shifts sentiment quickly in crypto markets.
Whether the support zone holds or breaks is the clearest signal to watch from here. A sustained close well below $2,234 would represent a meaningful deterioration of the pattern that has defined Ethereum's trading range for much of 2026.
Sources
Mentioned: ETH
