Over the last 24 hours, ETH has been relatively stable, with minor fluctuations. Although Ethereum’s price has decreased slightly (around -0.18% over 24 hours), it still shows a healthy monthly growth of over 6%. Over the past year, Ethereum has seen a notable increase, up by over 54%.
Technical Analysis:
1. Support and Resistance Levels: Ethereum is currently holding just above the $2,400 level, with immediate resistance around $2,450. Breaking this resistance could push it further toward $2,500. Conversely, a drop below $2,400 could see it test support at $2,350.
2. Market Sentiment: On short-term technical indicators, oscillators are largely neutral. Moving averages also reflect neutral sentiment, suggesting some indecision among traders about whether to push higher or correct further.
3. Volume: Trading volume has remained relatively stable, indicating that traders are still active, but there is no overwhelming push in either direction.
Best Entry Point:
A good entry point could be when Ethereum retests the $2,400 support zone. If it bounces off this level with strong buying momentum, it could be a good sign for an upward movement. For a more aggressive trade, you could also consider entering when it breaks the resistance at $2,450, indicating stronger bullish momentum  .
