$ETH

Ethereum's price has declined by 8.9% in the past 24 hours, currently trading at $2,512.87. The cryptocurrency has faced resistance at the $420 level, but on-chain data suggests a potential breakout. Key factors to watch include ¹ ²:

- *Support Levels*: $400-$390 zone, where buyers might step in to prevent further decline

- *Resistance Levels*: $420-$475 zone, a break above which could lead to further price appreciation

- *Market Sentiment*: Institutional investors seem to be accumulating ETH, with BlackRock leading the charge

- *Trading Volume*: Recent surge in transaction volumes indicates higher probability of a large price movement

Given the current market volatility, traders should closely monitor these factors for potential trading opportunities.