Ethereum Holds Strong Above $2,400 Despite Minor Pullback

Ethereum’s recent price surge may be cooling slightly, but bullish momentum remains intact. Despite a brief correction from the $2,700 level, ETH continues to show underlying strength, holding firm above $2,400. The asset’s breakout above the 200-day exponential moving average (EMA)—a key long-term market indicator—signals a potential structural shift toward a sustained uptrend.

Currently trading well above this critical level, Ethereum’s price action suggests that the recent pullback is more of a consolidation than a reversal. The 26 EMA is approaching a bullish crossover with the 100 EMA, reinforcing the view that short-term momentum could accelerate. Volume remains elevated, hinting that recent selling activity is likely profit-taking rather than a sign of weakening fundamentals. This follows ETH’s rapid rally from $1,800 to nearly $2,700, a move that reignited investor enthusiasm and institutional interest.

While the relative strength index (RSI) has eased from overbought territory, it remains comfortably above the neutral zone, implying that bullish sentiment is still strong—just more tempered. Traders and analysts are closely watching the $2,400 support level. As long as ETH stays above this threshold and continues to test recent highs, the bulls are expected to maintain control of the market.

Ethereum’s resilience in the face of volatility and its ability to stay above major technical levels signal growing investor confidence. With market structure aligning for a potential continuation of the upward trend, ETH may be setting the stage for its next move toward $3,000—particularly if broader crypto market conditions remain favorable. Long-term holders and momentum traders alike are keeping a close eye on Ethereum as it consolidates with strength, rather than weakness.