Ethereum price slips below $2,000 as traders debate a rebound

Ethereum price has slipped below $2,000 before recovering to around $2,014 on Nov. 12, leaving traders divided over whether a closely watched support zone can hold as US spot Ether ETFs continue losing money. ETH briefly touched $1,983.82, while its daily chart remained below the $2,031 resistance level. Merlijn The Trader identified $2,000–$2,100 as the zone supporting his bullish outlook. US spot Ethereum ETFs lost $695.9 million from November’s opening session through Nov. 11. Weekly moving averages remain above price, despite a positive Chaikin Money Flow reading. Ethereum’s $2,000 support faces renewed pressure Merlijn The Trader described the $2,000–$2,100 area as Ethereum’s “bull market line” in a Nov. 12 X post, arguing that its next move around this zone could determine whether the market has already formed its 2026 bottom.

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