Ethereum Price at Crossroads as $2,540 Breakout Zone Becomes Crucial Support

Ethereum's price has been on a rollercoaster ride in recent days, and its current correction is testing whether buyers will defend a key breakout zone.

The cryptocurrency traded near $2,728 on September 25, up about 3.13% over the past 24 hours, with a market cap of around $333 billion.

A pullback from above $2,800 that briefly dipped toward $2,640 on September 24 has brought attention to a former resistance zone near $2,540, which could become crucial support for Ethereum's price action.

The larger target sits at $3,391, but it depends on a sequence of events yet to occur, including defending the $2,540 retest zone and building sustained momentum above $3,000.