Ethereum Price Analysis: Can ETH Finally Break the $2,400 Resistance?

Ethereum has rebounded toward $2.37K after finding demand near $2.3K, but the recovery remains below its broken ascending channel. Buyers are showing an initial response, while the broader sequence of lower highs keeps the outlook cautious. Ethereum Price Analysis: The Daily Chart On the daily timeframe, Ethereum’s correction extended into the highlighted $2.22K–$2.31K demand zone before producing consecutive recovery candles. The rebound suggests that buyers are defending the upper portion of this region, although it has yet to reverse the bearish structure established after September’s peak. ETH remains beneath the ascending channel’s former lower boundary, which now represents potential resistance. The marked $2.47K–$2.52K supply zone overlaps with this broken structure, creating an important obstacle to a sustained recovery. Holding above $2.31K could support a further rebound toward $2.4K–$2.44K and subsequently the supply zone. However, until Ethereum reclaims $2.47K–$2.52K and the channel boundary, the advance appears corrective. Renewed weakness beneath the recent low around $2.28K would expose deeper support within the demand zone toward $2.22K. ETH/USDT 4-Hour Chart The 4...