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

Ethereum traded around $2.31K after falling below the lower boundary of a daily ascending channel, a technical pattern of parallel trendlines that had contained its rise from a late-June low near $1.5K. The breakdown followed a September rejection at $2.8K and a close below the channel line around $2.4K; support at $2.3K–$2.35K was also giving way. The next levels cited were a 0.5 Fibonacci retracement, a technical level based on prior price swings, near $2.16K, then the 0.618 level around $2K and a $1.9K demand zone called an order block. CryptoQuant’s Taker Buy Sell Ratio, which compares aggressive derivatives buying and selling, was about 0.973, its lowest since the June sell-off, signaling seller dominance.