ETH Coinbase premium hits 10-month low, analyst sees $3.3K resistance holding

Ethereum (ETH) is exhibiting several bearish signals, according to an analysis by crypto analyst CryptoOnchain. The analyst noted on X that the Coinbase Premium for ETH has dropped to its lowest level in 10 months, indicating weakened demand from U.S.-based investors and stronger selling pressure on Coinbase compared to Binance. ETH has been in a downtrend since peaking at $4,700 and has been unable to break through the key resistance level of $3,300. Sluggish demand for spot ETH ETFs was also cited as a bearish factor. CryptoOnchain concluded that a breakout above $3,300 is unlikely until the Coinbase Premium turns positive.