๐ $ETH Drops Below $2400 โ What's Happening?
๐น Current Stats
Price: $2399.10
Daily Change: -1.01%
Trend: Mild bearish pressure, following broader market weakness
๐น Contributing Factors
Bitcoin's Dip: As $BTC fell 1.5%, ETH followed โ still highly correlated.
Macro Uncertainty: Stocks dipping, especially with Tesla/Musk drama, leads to a wider risk-off mood.
Weak Momentum:$ETH has been struggling to reclaim the $2,500โ2,600 zone with conviction.
Lack of Catalyst: No major Ethereum-specific news to drive upward movement (e.g., no new upgrade narratives or ETF fuel recently).
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๐ Key Support & Resistance Levels
Level Type Notes
$2400 Support/now lost Psychological + previous bounce zone
$2300โ2320 Strong Support Consolidation base from June
$2500 Resistance Needed for breakout momentum
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๐ฎ What's Next โ Buy or Wait?
โ Buy IF:
ETH stabilizes above $2350 with good volume
BTC finds footing above $60k
You're dollar-cost averaging (DCA) long-term
โ ๏ธ Wait IF:
ETH breaks below $2300
Volume dries up, signaling further downside risk
Macro market continues pulling crypto down
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๐ง Pro Tip:
Watch for ETH/BTC ratio โ if ETH underperforms BTC, altcoins may stay weak short-term. But if ETH/BTC starts climbing, it could lead altcoin recovery.