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Strong Support For ETH Around $2,400

Written By: ChartChamp

September 5, 2024

Ethereum is trading near strong support around $2,400. I would monitor to see if this support level continues to hold for ETH. There are multiple support levels that intersect around this $2,400 target so this is an important support level for ETH bulls to defend. Over the past few days I discussed the possibility of ETH dropping to $1,900 in Sept. I think BTC could have to drop to $50k for that scenario to happen. If BTC continues to hold above $56.5k then ETH is likely to hold this support level around $2,400. We still have not experienced a post-ETF rally for Ethereum so that is still a possibility to consider over the next few weeks and months.

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