Ethereum Price Analysis: Is $2K Next as Coinbase Premium Hits Yearly Low?

Ethereum has slipped toward $2.2K after another wave of selling extended the decline from the $2.8K highs. With ETH now trading inside a key demand zone that also aligns with the lower boundary of its short-term descending channel, the current area could decide whether the correction stabilizes or deepens toward lower support. Meanwhile, the Coinbase Premium Index has dropped to its lowest reading in over a year, pointing to notably weak demand from US investors. Ethereum Price Analysis: The Daily Chart Ethereum’s daily chart shows that the ascending channel that carried the price higher from the June lows near $1.5K has been broken. After rejection from the $2.8K supply zone in September, ETH fell below the channel’s lower boundary and then retested it around $2.5K, where sellers rejected the price again. This failed retest suggests the former support has turned into resistance. The decline has now brought the asset into the $2.2K–$2.3K demand zone, which is located below the consolidation after August’s sharp rally. Today’s candle briefly wicked toward $2.15K before recovering, indicating that buyers are responding. However, the rebound remains modest, and the zone has yet to pro...