Ethereum Price Analysis: ETH Recovers to $2.3K, but Bears Still Eye $2K

Ethereum remains under pressure near $2.3K after its latest recovery failed to reverse the broader downtrend. With the ascending daily channel already lost, attention is shifting toward nearby demand and the liquidation concentrations beneath the market. Ethereum Price Analysis: The Daily Chart The daily chart shows a clear deterioration in Ethereum’s structure following the breakdown below the ascending channel. A subsequent rebound into the $2.44K–$2.52K supply zone was rejected, reinforcing the bearish significance of the broken channel boundary. Since then, ETH has continued to form lower highs and lower lows. The latest decline produced a sharp wick toward $2.17K, followed by a modest recovery that has struggled to hold above $2.26K. This suggests that buyers are defending the recent lows, but their response has yet to establish a meaningful reversal. The $2.17K–$2.22K region is now an important near-term support area. A sustained break beneath it would expose the psychological $2K level, followed by the broader daily demand zone at approximately $1.82K–$1.98K. For buyers to improve the outlook, ETH first needs to recover the $2.31K–$2.36K region, where several recent candles ...