Ethereum Holds Above $2,400 as Bulls Battle Bears for Control

Ethereum is currently at a critical juncture, with bulls and bears locked in a battle for control. After enduring a weekend decline, the second-largest cryptocurrency by market cap is holding above the crucial $2,400 support level. However, the question remains: how long can it maintain this position? Analysts suggest that the next move could either be a powerful rally toward $2,800 or a sharp drop back to $2,000.

Despite the broader market’s mixed signals, Ethereum has managed to stabilize above $2,400 — a zone that many traders consider the last stronghold before bearish momentum could take over. According to an analysis published by Swallow Academy on TradingView, ETH is currently forming a classic “Power of 3” market structure. If the pattern holds, the asset may be entering its expansion phase, typically characterized by a surge in volatility and volume. This scenario would position Ethereum for a run toward the $2,800–$3,000 range. Historically, this resistance band has served as a key psychological barrier, often triggering sharp reactions from traders. Breaking through could signal renewed bullish confidence, potentially paving the way for a broader altcoin rally.

However, traders should not discount the downside risk. If bulls fail to defend the $2,400 level — especially amid macroeconomic uncertainty or escalating geopolitical tensions — Ethereum could breach this support. A break below might quickly send the price tumbling toward $2,100 and possibly even retest the $2,000 psychological floor. A drop below $2,100 would invalidate the bullish “Power of 3” scenario and may invite aggressive selling pressure, leading to a broader correction across the crypto market.

Ethereum’s current consolidation reflects a broader trend of indecision across the digital asset space. With reduced trading volumes and muted investor sentiment, all it may take is a spark — positive or negative — to ignite a major move. Whether that trigger comes from regulatory updates, economic data releases, or crypto-specific news remains to be seen. But what’s clear is that Ethereum is standing at a technical and psychological fork in the road. Traders and investors alike should brace for a decisive breakout — in either direction.