Ethereum Holds at $2,300 as Geopolitical Risks Ease

A recovery trend emerged across the crypto asset market as concerns over potential US military strikes against Iran failed to materialize and easing oil prices supported overall risk appetite. As of the morning of October 26, 2026, trading at the $2,328.84 level, Ethereum recorded a daily gain of 0.07%. Moving within a range of $2,294.34 to $2,333.26 during the day, the asset's 24-hour trading volume reached approximately $8.3 billion. Meanwhile, the market's largest crypto asset, Bitcoin, changed hands with a 0.38% gain at the $80,344.73 level in the same timeframe, reaching a trading volume of approximately $18.4 billion.

Which technical levels stand out for Ethereum?

Slipping below its main ascending trendline during the sell-off triggered by Middle East tensions, Ethereum entered a stabilization process below this threshold after breaking below the critical $2,360 technical support. Technical indicators reveal that sellers, defining risk above the broken support, could target the $1,900 floor. For a potential upward recovery to broaden, the descending trendline must be surpassed and the resistance zones of $2,800 and $3,400 must be targeted, respectively.

How do the Fed rate decision and macro data affect crypto?

Despite the short-term easing of geopolitical tensions, the Middle East crisis's upward pressure on global consumer price inflation (CPI) and its slowing effect on economic growth continue to create resistance for the asset. In addition to the uncertainty created by the upcoming midterm elections in the US, the Federal Reserve (Fed) maintaining its pro-tightening stance limits upside room.

While the market expects interest rates to be kept unchanged at Wednesday's Federal Open Market Committee (FOMC) meeting, it is evaluated that a potential surprise rate hike could deepen selling. At the meeting where no dot plot will be published, hawkish messages that could come from Fed Chairman Warsh, known for avoiding forward guidance, are being monitored. Throughout the week, US consumer confidence, 3rd-quarter gross domestic product (GDP), core personal consumption expenditures (PCE), weekly jobless claims, and employment cost index data will also be watched.

This content is for information purposes only and does not constitute investment advice.