Ethereum (ETH) Price Analysis: Why Retracing $2.5K Is Do-or-Die for the Bulls Ethereum is now trading below $2.4K after facing resistance at the $2.5K level, marking the breakdown point of its previous ascending channel. A daily close above $2.5K is essential for the bulls to confirm a potential recovery towards $2.8K, while failure to do so could lead to further declines towards the $2.2K and $2K support levels. The Coinbase Premium Index is showing signs of recovery but remains negative, indicating that US demand for Ethereum is still weak, which could affect future price movements.

Ethereum (ETH) Price Analysis: Why Retracing $2.5K Is Do-or-Die for the Bulls Ethereum is now trading below $2.4K after facing resistance at the $2.5K level, marking the breakdown point of its previous ascending channel. A daily close above $2.5K is essential for the bulls to confirm a potential recovery towards $2.8K, while failure to do so could lead to further declines towards the $2.2K and $2K support levels. The Coinbase Premium Index is showing signs of recovery but remains negative, indicating that US demand for Ethereum is still weak, which could affect future price movements.