An analysis suggests that if ETH breaks above the $2400 resistance level based on the daily closing price, further gains are possible, potentially reaching $2700, where the 200-day moving average (MA) is located. Cryptopotato analyzed, "ETH has been trading in a sideways range around $2400 for approximately three months. It is currently confirming support above the 100-day moving average near $2200, and the Relative Strength Index (RSI) remains at a neutral level of 55. On-chain, structural improvement signals are emerging with a decrease in exchange holdings and continued accumulation. Conversely, if ETH falls below $2200 based on the daily closing price, a decline of approximately 15% is expected."
