Ethereum Support Zone Hinges on $2,400 Breakout

Ethereum's daily chart has been identified as one of the cleanest trends in the market by crypto trader DonAlt, who predicted XRP would rise more than 700 percent in 2024 to 2025. According to DonAlt, Ethereum broke through a key resistance level and is now moving into a consolidation range.

The key price level for Ethereum is $2,400, which has become a major support zone after the coin broke above it. DonAlt views this band as a significant indicator of market direction, with other altcoins likely to follow Ethereum's trend once the current stable period ends.

Ethereum has risen 30 percent over the past two weeks, and DonAlt has been buying the cryptocurrency at $1,878 on August 13. He believes that taking profit at $3,000 is possible, with a long-term target price of around $4,000 for Ethereum.