$ETH Faces Tough Resistance, Bearish Signals Point to Potential Dip to $2,400

$4,700 acts as a strong resistance, repeatedly halting Ethereum’s upward momentum.

Sell signals cluster near resistance while buy signals emerge at critical support levels.

Ethereum could see a stepwise correction toward $3,300, $2,700, and eventually $2,400.

Ethereum is stuck below the tough $4,700 resistance, hinting at potential turbulence ahead. With the price at $4,169 and mixed recent moves, traders are closely watching the crucial $2,400 support for signs of a significant pullback.

Ethereum’s Resistance Wall: A Turning Point?

Ethereum’s price action is showing signs of hitting a major barrier near $4,700. This level has acted as a ceiling multiple times, keeping bulls at bay. Recent sell signals around this zone suggest sellers are gaining strength. This analysis is based on detailed charting and technical signals shared by crypto analyst Ali Charts.

Traders should note the resistance’s resilience as it repeatedly forces price pullbacks. This resistance is now critical — failure to break above could set the stage for a deeper correction.Ethereum appears to be bracing for a potential downturn, likely to retrace some of its recent gains.

Key Support Levels Set the Stage

Historically Ethereum’s key support levels around $2,400 and $1,100 have held strong before. Price data show buy signals tend to appear near these support areas, reinforcing their importance. They have helped to soak up selling pressure and trigger rebounds in the price.

The chart’s pattern suggests Ethereum could make its way down in waves, with intermittent bounces before stabilizing near these zones. Traders eyeing entry points might want to pay close attention here.

A Corrective Phase in Motion

The current setup hints at a possible correction pattern unfolding. The price path indicates potential stops around $3,300 and $2,700 before nearing the $2,400 support. Such a move aligns with typical market cycles where a peak is followed by a corrective drop

This phase might be marked by smaller recoveries within the broader downward trend. For market participants, these levels present opportunities to balance risk while staying alert to the broader picture

Watching those support zones closely could help you navigate this market phase. Ethereum is struggling to break the $4,700 resistance and the price could pull back to lower support levels

The market is at a crucial point, with a possible correction ahead so traders should watch signals carefully to spot good buying opportunities and get ready for market ups and downs.

The post $ETH Faces Tough Resistance, Bearish Signals Point to Potential Dip to $2,400 appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.