Ethereum Price Analysis: Is $2K in Play as Bearish Sentiment Builds?

Ethereum’s failed rebound has given way to renewed selling, leaving the price near $2.37K and below its broader ascending channel. With futures taker activity also shifting toward sell dominance, the bearish continuation scenario remains favored unless buyers reclaim nearby resistance. Ethereum Price Analysis: The Daily Chart On the daily timeframe, Ethereum has broken beneath the ascending channel’s lower boundary after its latest recovery stalled inside the $2.44K–$2.52K supply zone. The subsequent bearish candles suggest that the rebound offered sellers another opportunity to reduce exposure, while buyers have struggled to restore the previous structure. The immediate defense is now the highlighted $2.32K–$2.36K demand zone. A sustained close beneath this region would strengthen the breakdown scenario and expose the upper boundary of the marked bullish imbalance, or BISI, around $2.22K. This imbalance extends toward $1.92K and represents the area left behind by August’s rapid advance. A deeper retracement into it is possible if demand fails, although a complete fill is not guaranteed. Conversely, holding nearby support could produce another relief bounce. However, ETH would need...