Ethereum Price Analysis: Key Levels to Watch as $2K Comes Into Play for ETH

Ethereum has slipped below a key technical boundary after failing to continue its recovery through the $2.8K region. Trading around $2.31K, ETH has broken beneath the lower trendline of its daily ascending channel, putting pressure on the nearby support zone at $2.3K. Meanwhile, the Taker Buy Sell Ratio points to significant selling aggression in the futures market, reinforcing the cautious short-term picture. Ethereum Price Analysis: The Daily Chart On the daily timeframe, Ethereum had been advancing within a clear ascending channel since the late-June low near $1.5K. The rejection from the $2.8K supply zone in September started a steady decline, and the price has now closed below the channel’s lower boundary around $2.4K. This breakdown suggests that the structure supporting the recovery has weakened considerably. ETH is also losing the small $2.3K–$2.35K support area, leaving the 0.5 Fibonacci retracement near $2.16K as the next notable reference. Below it, the 0.618 level around $2K and the $1.9K order block stand out. The latter overlaps with the 0.702 retracement and marks the base of the sharp August rally, making it a major demand confluence. On the upside, buyers would fir...