Ethereum Price Bounces Above $2,400, But Resistance Looms

Ethereum's price has recovered to around $2,408 after dipping to $2,370, marking a tentative rebound above the key $2,400 level. However, short-term momentum is weakening, and resistance near $2,430 and $2,500-$2,550 zones poses challenges.

A daily or weekly close below $2,350 could trigger a deeper pullback toward $2,200, according to Pluang's analysis. Broader market risks, including rising energy prices and upcoming Federal Reserve decisions, add uncertainty to Ethereum's near-term outlook.