The price of Ethereum faces a key resistance at $2400, with bullish sentiment soaring in the futures market

According to CryptoPotato, the price of Ethereum encountered a significant obstacle at the key resistance of $2400, resulting in an extended consolidation phase within this critical area. This situation and bullish sentiment in the futures market have heightened expectations for a potential bullish breakout. The daily chart of Ethereum shows that the price is in an upward consolidation period, approaching the important resistance of $2400. Despite this, ETH is showing a bullish momentum, attempting to break through this key area. A successful breakthrough could potentially allow prices to reclaim the $2400 resistance and lay the foundation for a new wave of bull market. However, considering bearish divergence between price and RSI indicator, there's still possibility for bearish reversal. Even though overall market sentiment is bullish, sudden rejection could lead to continued decline towards 100-day and 200-day moving averages. Therefore under these market conditions it's advised to proceed with caution as impulsive actions may occur unexpectedly.