Why Ethereum Is Falling Today: ETH Slides Toward Support

Market mover Bearish bias Oct 13, 2026, 00:04 UTC

Oliver HayesMarket Risk Analyst · ForexR analyst

Ethereum is down 3.46% at $2,446.54, trading between the previous day low at $2,441.01 and the daily pivot at $2,487.28 after headlines pointed to long liquidations and a slower institutional bid.

ETH/USD Slides Below the Pivot as Long Liquidations Mount

Ethereum trades at $2,446.54 in the Asia session, down $87.76, or 3.46%, from the previous close at $2,534.30. The move is roughly in line with the 14-day average true range of $87.60, and today's full range of $134.37 works out to about 153% of that reading. Price sits between S1 at $2,399.17 and the daily pivot at $2,487.28, after swinging between a day high of $2,575.38 and a day low of $2,441.01, a touch above yesterday's close of $2,445.44.

The four-hour and one-hour trends are both marked down, with price under the four-hour 20-period average near $2,519.39 and the four-hour 50-period average near $2,558.40, while the daily RSI reading of 37.6 reflects the loss of momentum. The daily trend itself is labeled mixed: Ether still sits above its 200-day average near $2,308.15 even as the shorter-term picture has turned lower, so the longer-term structure keeps this from being a one-sided picture. Weighing today's decline against the down-trending four-hour and one-hour charts, the lean from here reads bearish.

Liquidations and a Cooling Institutional Bid in the Headlines

Overnight newsflow, as reported by Tokenpost, centered on a run of long liquidations in Ether as price fell, describing forced closures of leveraged long positions across exchanges within a short window. Separate coverage pointed to crowded leveraged long positioning across major cryptocurrencies, which may have added pressure to the slide as positions were forced out.

A report from CryptoPotato also described a large Ether buyer scaling back its weekly purchases, with commentary suggesting that a period of steady accumulation may be slowing. Taken together, the coverage points to a theme of fading leveraged and institutional demand rather than a single confirmed cause for today's drop.

News sentiment on ETH/USD carries an opportunity score of -44, a bearish reading, and a separate alert flagged that score swinging from 20 (bullish) to -41 (bearish) within 24 hours. That reading describes the tone of coverage and an independent opportunity score, not trader positioning or a forecast for where price goes next.

Levels on ETH/USD After the Drop

The nearest resistance is the daily pivot at $2,487.28, $40.74 above the last trade, while the nearest support is the previous day low at $2,441.01, just $5.53 below it. Above the pivot, R1 sits at $2,533.55 and R2 at $2,621.65; below current levels, S1 is at $2,399.17 and S2 at $2,352.90.

Over the past five days, Ether has ranged between a high of $2,585.67 and a low of $2,404.60, a stretch over which the pair is down 4.91%. Over the past twenty days the range widens to a high of $2,788.35 against the same low of $2,404.60, with the pair down 11.14% across that longer window. Round-number levels also sit close by, with $2,400 just below the market and $2,450 just overhead. The pivot point calculator and the position size calculator can help map these levels against a given account, and the guide to the ATR indicator explains how the volatility reading above is built.

Bullish and Bearish Paths from Here

On the upside, a break above R1 at $2,533.55 would open the way to R2 at $2,621.65, though that path first requires price to reclaim the daily pivot at $2,487.28, which also stands as the level that would invalidate the bullish case if it gives way again.

On the downside, a slide through S1 at $2,399.17 would open the way to S2 at $2,352.90; a recovery back above the daily pivot at $2,487.28 would undercut that bearish path instead. With the last trade sitting just $5.53 above the previous day low and $40.74 below the pivot, price is closer to the bearish scenario's trigger than to the bullish one's.

What's on the Calendar Into London

London is still well ahead at 07:00 UTC from the current Asia session. Before that, today's US calendar includes a speech from the Fed's Waller, the ADP Employment Change four-week average, the Existing Home Sales Change reading, and the Monthly Budget Statement, all due later today, with an IMF Meeting scheduled for tomorrow. None of these releases are specific to Ether, and the calendar does not indicate how, or whether, they carry over into crypto trading.

Bottom Line

Ether's 3.46% decline lines up with headline reports of a long-liquidation wave and a cooling institutional bid, even though the move itself works out to roughly one ATR day. Price is pinned between the previous day low at $2,441.01 and the daily pivot at $2,487.28, with the shorter-term trend pointing down and the bearish scenario's trigger sitting closer than the bullish one's.