Ethereum Price Analysis: ETH Must Reclaim These Levels to Reverse Bearish Momentum

Ethereum was trading near $2.25K after a failed breakout earlier this week pushed it back toward $2.2K, where buyers defended short-term support. The asset had fallen below an ascending channel that carried it from June lows near $1.5K after a late-September peak near $2.8K, and a rebound to $2.5K was rejected, turning prior support into resistance. CryptoQuant’s Transactions Between EOA metric, a 30-day exponential moving average of transfers between wallets controlled by private keys rather than smart contracts or exchanges, has fallen since August to about 560K, from roughly 1.3M in the first half of 2026.