Ethereum Price Analysis: ETH Must Reclaim These Levels to Reverse Bearish Momentum

Ethereum is struggling to regain momentum after a failed breakout attempt earlier this week sent the price back toward $2.2K. With ETH now trading around $2.25K, buyers are defending a short-term support level that could decide whether the market stabilizes or extends its correction. Meanwhile, network activity between user wallets has dropped sharply from its mid-2026 highs, offering little sign of renewed demand. Ethereum Price Analysis: The Daily Chart Ethereum’s daily chart shows the asset breaking below the ascending channel that carried the price higher from the June lows near $1.5K. After topping out close to $2.8K in late September, ETH declined through the channel’s midpoint and eventually lost its lower boundary in late October. This indicates a clear deterioration in the medium-term structure.

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