Ethereum price tests $2,300 as U.S. election volatility persists

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ETH tests $2,300 as election volatility persists

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Mykhailo Ihnatenko

04.11.2026

Ethereum price tests $2,300 as U.S. election volatility persists — Election uncertainty keeps Ethereum fragile

Ethereum is trying to stabilise above $2,300, but persistent ETF outflows continue to limit buyer conviction. The next test is whether ETH can hold this level and extend the recovery toward $2,400.

ETH price prediction

24H 0.8%

$2,255.26

48H 0.68%

$2,252.72

7D -0.98%

$2,215.43

1M -19.09%

$1,810.36

3M -39.91%

$1,344.49

6M -52.29%

$1,067.37

12M -39.45%

$1,354.66

Detailed

Current price: $2,237.42 3.45 0.15%

Real-time Data 16:49

Daily range 2229.56

2246

Weekly range 2206.28

2450.00

Ethereum developers are aiming to complete the network’s transition to a quantum-resistant architecture by December 2028, one year ahead of the official timeline. Ethereum Foundation researcher Justin Drake announced the target at Devcon 8. For now, however, it remains an ambitious goal rather than an officially approved change to the roadmap.

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ETH showed little positive reaction to the announcement. According to SoSoValue, U.S. spot Ethereum ETFs recorded $85.3 million in net outflows on November 3, suggesting that pressure from ETF investors remains in place.

The U.S. midterm elections added another burst of volatility. As voting results began to come in, ETH briefly fell to $2,226 before quickly recovering from the drop.

Holding above $2,300 could open the way toward $2,400

As mentioned previously, ETH needs to establish itself above $2,300 for the recovery to strengthen. If the price can stay above this level for several more days, the rebound could extend into the $2,350–2,400 zone.

The local bearish structure, however, remains unchanged. The technical picture would only begin to improve after a test of the 50-day SMA near $2,500. A more durable recovery would also require a strong fundamental catalyst, such as an end to the U.S.-Iran conflict.

Until then, downside risk remains. If ETH slips back below $2,300 and holds there, the price could once again test support near $2,200.

U.S. election uncertainty keeps crypto volatility elevated

The U.S. midterm elections have added another layer of uncertainty to the crypto market. A shift in the political balance in Congress could affect the future direction of digital-asset legislation as well as institutional investor sentiment.

ETH’s sharp drop followed by a rapid recovery shows how sensitive the market remains to political developments. Volatility may stay elevated in the near term as investors digest the election results.

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