Ethereum Price Analysis: ETH Recovers to $2.3K, but Bears Still Eye $2K

Ethereum has recovered to roughly $2.3K after losing its ascending daily channel, but the rebound has failed to reverse the broader downtrend and bears continue to target the $2K level. The breakdown in daily structure has shifted attention to nearby demand zones and liquidation concentrations sitting beneath current prices, which could accelerate a move lower if triggered. ETH remains under pressure near $2.3K, with the failed recovery underscoring persistent weakness in the trend. Traders are watching whether buyers can defend the demand area around current levels or whether forced liquidations below the market pull the price toward $2K.