Ethereum recently climbed above $2,400, though it later dipped below that level. Crypto analyst Michael van de Poppe noted this rise as a positive sign but was surprised by the larger-than-expected drop. He sees $2,400 as a crucial support level, with a breakout above $2,450 potentially signaling a major market shift.

Currently, Ethereum is priced at $2,390.38, down 2.9% over the past 30 days. After a brief recovery early in the month, the price has since fallen back. Sellers tried to push the price up yesterday but couldn't regain previous levels.

For stability, Ethereum needs to stay near $2,400, with investors closely watching for a rise above $2,450. A breakout could bring a significant market shift.