Ethereum Price Analysis: ETH Rebounds From $2K, but the Danger Isn’t Over

Ethereum has extended its decline toward the $2K mark after losing the ascending channel that had supported its recovery since June. Trading around $2.05K, ETH is now approaching a key demand zone that could decide whether the correction stabilizes or develops into a deeper move. Meanwhile, the Coinbase Premium Index remains firmly negative, pointing to weak demand from US-based investors. Ethereum Price Analysis: The Daily Chart On the daily timeframe, Ethereum broke the lower boundary of its ascending channel in late October after failing to clear the $2.8K-$3K supply zone. The early-November rebound retested the $2.5K bearish order block and was sharply rejected, turning the former support into resistance and confirming the shift in structure.

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