Ether price is still stuck below $2.4K: Here is why

💡 DMK Insight

ETH’s struggle at $2,400 is a critical pivot point for traders right now. With the current price at $2,283.92, the resistance around $2,400 has proven tough to breach, especially as flat spot ETF inflows are failing to provide the bullish momentum many expected. This stagnation, coupled with rising Ether deposits to Binance, suggests that traders are becoming increasingly cautious. If ETH can’t break through that $2,400 ceiling soon, we might see a pullback, particularly if selling pressure increases from those deposits. On the flip side, if ETH manages to close above $2,400 on a daily basis, it could trigger a wave of buying, potentially leading to a test of higher levels. Keep an eye on trading volumes and the sentiment around ETF developments; these could be key indicators of whether we see a breakout or a continued consolidation phase. Watch for a decisive move in the next few days, as that will likely set the tone for ETH’s short-term trajectory.