📉 Ethereum $ETH Slides Toward $2,400 — Is a Bounce Incoming or Another Leg Down?

Ethereum is drifting lower, now trading at approximately $2,462 as of today – down about 5.5% from recent highs, and inching closer to the $2,400 critical support zone

🔍 What’s Driving This Dip?

Recent volatility triggered sharp intraday moves from around $2,635 down to $2,408, before bouncing slightly .

Profit-taking in response to major institutional inflows—like BlackRock’s $561 million BTC-to-ETH shift—may also be fueling the retracement .

Whales defending $2,400: On-chain data shows significant on-platform activity around the $2,400–$2,500 range, signaling that large holders consider this a key zone .

📊 Technical & Sentiment Update

Price action shows a bull-flag type consolidation — tight trading range after a big rally, often a springboard for the next move .

Funding rates and open interest remain elevated, suggesting the pressure is coiled — energy is building, and a break below $2,400 or above $2,600 could trigger rapid movement .

Candlestick action: The floor around $2,400 is critical. A bounce here could spark relief rally back to $2,550–$2,600; a breakdown risks a drop to $2,300–$2,350 .

🔮 What’s Next for ETH?

Bullish scenario: ETH holds above $2,400 and reclaims $2,550–$2,600 — potentially signaling continuation toward $3,000 in Q3 amid broader DeFi strength.

Bearish scenario: A breakdown below $2,400 sends ETH toward $2,300 or lower, testing mid-range sentiment.

🧠 Pro Tip for Traders

Buyers: Consider scaling in near $2,400 with tight stops — risk/reward improves dramatically if support holds.

Traders: Look for clear confirmation above $2,500 with volume before committing long; or short after a clean breakdown with volume. Avoid chasing scalp flip without clear setup.

🧨 Ethereum is at a pivotal moment, hovering near the $2,400 support line. With volatility building and institutional flows shaping momentum, the upcoming move could be decisive — and fast.

💬 What’s your view? Buying the dip, shorting the breakdown, or waiting for the signal? Drop your trade plan below 👇

#Ethereum