Ethereum successfully defended the $2,000 support level yesterday.

However, for a meaningful recovery to develop, $ETH must reclaim and hold above the $2,400 resistance zone.

What This Means (Explanation)

$2,000 = Key Support:

Buyers stepped in around this level, preventing further downside. This shows demand is still present.

$2,400 = Major Resistance:

This level has previously rejected price, making it a critical barrier. Until ETH breaks and holds above it, rallies are likely to be short-lived.

Market Structure:

Holding support is positive, but trend confirmation only comes after breaking resistance. Without reclaiming $2,400, ETH remains range-bound or vulnerable to another pullback.