Ethereum price analysis reveals that ETH is facing pressure after dropping to $1,800, breaking below key support levels, and testing lower demand zones.
On the daily chart, Ethereum remains in a bearish structure, with lower highs and lower lows. Unless ETH reclaims $2,200, the path of least resistance remains to the downside.
The 4-hour chart confirms the breakdown of the rising channel that supported ETH's previous recovery attempts. Currently trading near $1,800, ETH looks weak, with little evidence of dip-buying interest.
Neutral funding rates and cautious sentiment indicate a cooling-off period or continued downside drift for Ethereum, unless there is a resurgence of positive funding and reclaiming of key technical levels.