Ethereum (ETH) Price Analysis: Why Reclaiming $2.5K Is Do-or-Die for the Bulls

Ethereum is pulling back below $2.4K after the recent rebound from the $2.2K mark ran into resistance at the level where its multi-month ascending channel broke down. The rejection leaves ETH caught between improving short-term momentum and an unresolved breakdown on the daily timeframe. Meanwhile, the Coinbase Premium Index is recovering from deeply negative readings but remains below zero, suggesting that US spot demand has yet to return in force. Ethereum Price Analysis: The Daily Chart On the daily chart, Ethereum spent June through mid-October inside an ascending channel that carried the price from approximately $1.5K toward $2.8K. The October decline hover pushed ETH through the channel’s lower boundary, and the former support area has since turned into resistance. The latest rebound stalled inside the yellow zone around $2.5K, exactly where the channel was lost. Reclaiming the $2.5K region on a daily closing basis would be the first sign that the breakdown was a deviation rather than a structural shift, potentially reopening the path toward the $2.8K swing high and the supply zone above it. Until that happens, rallies into this area could continue to meet selling pressure fr...