Overview
- ETH slipped below $2,000 and is hovering near the channel’s lower boundary, with bears capping rebounds under the $2,000–$2,100 resistance zone.
- Short‑term momentum remains weak as price trades under key moving averages after breaking an intraday bullish trend line near $2,035.
- Analysts warn that a weekly close below roughly $1,850 would invalidate the multi‑year channel and could open downside toward $1,200–$1,500.
- A counter‑view from technical traders projects substantial upside if support holds, with one widely shared chart targeting a possible move toward $7,000.
- On‑chain trackers flagged 261,024 ETH (about $543 million) sent to Binance from wallets labeled to a single entity, heightening sell‑pressure risks though deposits do not confirm imminent selling.