Whether Ethereum (ETH) will continue its recent bullish trend or turn bearish depends on its effective breakthrough of the $2,400 resistance level, CryptoPotato analyzed. The media explained, "Based on the daily chart, ETH is trading near $2,300 and has tested the $2,400 resistance four times over the past six weeks. The key $2,400 resistance zone is where the upper resistance line of the descending channel and the 100-day moving average (MA) converge." It further assessed, "If the daily candle closes above $2,400, the next target could be $2,800, but if it fails to break through, there's a possibility it could drop to the $1,800 level."
