Ethereum Price Faces 8-10% Decline Threat Amid Rejection at Resistance

Ethereum's price is facing renewed pressure after being rejected at $2,450 for the second time.

Analyst Ted warns that if Ethereum falls below $2,400, it could lead to an 8% to 10% decline from the current support area.

The level of $2,400 now separates the current consolidation from a deeper decline, according to Ted.

Despite the rejection at resistance, some analysts believe that Ethereum's price could still reach $3,500 and higher targets in the broader market cycle.