Ethereum Price Analysis: ETH Defends $1.5K Support, But Weak Demand Puts Recovery in Question
🔻 Ethereum remains in a bearish market structure, trading around the $1.5K support zone, with significant resistance overhead and weak institutional demand on Coinbase.
📉 The daily chart indicates ETH is in a downtrend within a descending channel, with critical resistance at $1.85K and a potential recovery hindered by the $1.75K horizontal resistance.
💔 The Coinbase Premium Index shows subdued institutional demand, suggesting limited chances for a strong bullish reversal unless buying pressure from large investors increases.
🔻 Ethereum remains in a bearish market structure, trading around the $1.5K support zone, with significant resistance overhead and weak institutional demand on Coinbase.
📉 The daily chart indicates ETH is in a downtrend within a descending channel, with critical resistance at $1.85K and a potential recovery hindered by the $1.75K horizontal resistance.
💔 The Coinbase Premium Index shows subdued institutional demand, suggesting limited chances for a strong bullish reversal unless buying pressure from large investors increases.