Ethereum Confirms Golden Cross as Price Struggles Near $2,400

Ethereum is currently trading around $2,400 after a decline of over 12% in the past week. Analysts warn that failure to maintain this support level could lead to further corrections. Recent volatility has seen ETH surge to $2,550 before quickly dropping back, reflecting broader market uncertainty.

Key points include:

A Golden Cross has been confirmed on Ethereum’s 12-hour chart, indicating potential bullish movement.
If bulls defend the $2,400 level and push prices above $2,600, it may signal a new uptrend.
Failure to hold this support could result in a deeper retracement towards $2,200–$2,300.
ETH remains down 36% from its December high of around $4,100.

The current critical support at $2,400 must hold for bullish momentum to continue. A break below could shift the market into a consolidation phase. Meanwhile, reclaiming $2,550 is essential for restoring upward momentum.