Ethereum Price Analysis: ETH Risks Deeper Drop as $2K Support Comes Under Pressure

📉 Ethereum has broken below key support levels, including a multi-month bullish structure and the 100-day moving average, indicating a bearish trend as it struggles to reclaim the $2.4K resistance zone.

🔻 The asset is currently trading within a descending channel on the 4-hour chart, with significant demand around the $2K mark; however, a failure to hold this level could lead to a deeper correction towards $1.8K.

📊 Market sentiment remains weak, with the Ethereum Taker Buy Sell Ratio below 1.0, suggesting that aggressive buyers are largely absent and that any potential recovery may face considerable selling pressure.