Ethereum slipped below $2,800 before rebounding toward $2,900, with price recently near $2,897. According to CryptoQuant, the 30‑day SMA of the Coinbase Premium Index fell to -0.08, the lowest since early 2023, signaling softer US institutional demand. With the 50/100 MAs above price and momentum weak, $3,000–$3,250 remains a key resistance zone.