CryptoPotato analyzed that whether Ethereum (ETH) will continue its recent bullish trend or turn bearish depends on a valid breakout of the $2,400 resistance level. The media explained, "Based on the daily chart, ETH is trading around $2,300 and has tested the $2,400 resistance breakout four times in the past six weeks. The key $2,400 resistance zone is where the upper resistance line of the descending channel and the 100-day moving average (MA) converge." It further diagnosed, "If the daily candle closes above $2,400, the next target price could be $2,800, but if it fails to break out, there is a possibility it could fall to the $1,800 level."
