In recent days, Ethereum has faced challenges, failing to sustain a recent rally, though analysts suggest a potential improvement in the future.
Current Situation in the Ethereum Market
According to analyst Michaël van de Poppe, Ethereum is experiencing a healthy market correction. The asset tested the resistance at $2,600 but couldn't push higher, resulting in a liquidity sweep on the long side.
Key Support Zone at $2,400
van de Poppe highlights the $2,400 level as the next logical target for testing. This area could serve as a launchpad for the next bullish leg, especially if the price stabilizes.
Trends Remain Bullish
Despite the pullback, van de Poppe maintains a bullish outlook. He notes that the broader trend has already shifted upward, positioning this correction as a potential buying opportunity.
Thus, the current state of the Ethereum market highlights the importance of the $2,400 support level, which may act as a basis for subsequent growth if the price stabilizes.
