Ethereum Price Analysis: Is $2K Next as Coinbase Premium Hits Yearly Low?

Ethereum fell toward $2.2K after selling extended its decline from $2.8K highs, leaving the asset in a $2.2K–$2.3K demand zone and around $2.24K after a brief move to $2.15K. The drop followed a September rejection at $2.8K and a failed retest of about $2.5K, after Ethereum broke an ascending channel that had carried it from June lows near $1.5K. The Coinbase Premium Index, which measures the ETH price gap between Coinbase and Binance as a gauge of US investor demand, fell to about -0.21, its lowest reading in over a year. Negative readings indicate weaker demand or heavier selling on Coinbase relative to the broader market.