ETH struggles near $2,900 as Coinbase Premium SMA30 sinks to −0.08

Ethereum fell below $2,800 before rebounding toward $2,900, with price last seen near $2,897. According to CryptoQuant, the 30‑day SMA of the Coinbase Premium Index dropped to −0.08, a multi‑year low signaling weaker US institutional demand. With key moving averages overhead, bulls need a decisive reclaim of $3,000 to reduce downside risk toward $2,750–$2,800.