- Ethereum is consolidating around $2400 after a sharp pullback from $2800 highs.
- Key support lies between $2100 and $2400, aligning with major Fibonacci retracement levels.
- A cup and handle pattern is forming on the weekly chart, hinting at a possible breakout to $4200.
- Rising volume and sustained support are essential for confirming the bullish continuation.
Ethereum (ETH) is currently floating near $2400, showing signs of consolidation after a recent pullback from a recent high of near $2800. Price action for the past two months has been labeled as a strong rally from a low of near $1400, followed by a pullback, now testing key levels of support.
This period of consolidation is quite necessary for Ethereum, as the future direction is determined. After bottoming out levels during the initial part of 2025, Ethereum experienced a rapid comeback and pushed the price close to $2800.
Nevertheless, profit taking and…
