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>>Ethereum reaches a critical juncture as $3,900 barriers halt ETH and a $2,400 downside risk emerges.

Ethereum reaches a critical juncture as $3,900 barriers halt ETH and a $2,400 downside risk emerges.

crypthub

4 days ago

MACD Signals Renewed Bullish Momentum

Ethereum’s MACD turned positive for the first time in three months, indicating a potential upside. The 2‑day chart showed ETH opening around $3,325, dropping to $3,058, and closing near $3,063, a 7.9% fall. A support band in the mid‑$2,000s held during the dip. The chart flags $3,900 as the crucial resistance level that ETH must break.

Ethereum Compared With the Russell 2000 Proxy

Analysts noted that ETH’s price pattern now mirrors the iShares Russell 2000 ETF (IWM). Both series have experienced similar volatility, including a sharp sell‑off and a later rebound. The recent ETH bounce sits below the IWM line, suggesting room for catch‑up. A vertical marker highlights the potential convergence.

Flag Pattern Could Push ETH Toward $2,400

A 12‑hour chart of the ETH/USDT perpetual contract shows a flag formation after a steep decline. If the pattern completes, the projection targets around $2,400 in the mid‑$2,000s. The current price sits near $3,244, up 0.27% on the chart. The analyst warns the target is conditional on the flag’s validity.