Ethereum Price Retreats to Key Support Zone Amid Sideways Movement

Ethereum's price has pulled back to around $2,400 after experiencing a significant surge from approximately $1,900 to $2,550. This sideways movement near the highs has created a crucial support zone for the cryptocurrency.

The key area of focus is currently at $2,400-$2,420, and if it holds strong, ETH may push towards $2,480-$2,500. Furthermore, this could potentially lead to a test of $2,535-$2,555.

If the price manages to break above these highs, a new target range opens up at $2,600-$2,650, followed by even higher targets of $2,750 and potentially $3,000.

However, if the support zone breaks down, the next level to watch would be $2,350.