ETH breaks major downtrend, next resistance seen at $2,400

Ethereum (ETH) has broken through a major downtrend line on its daily chart, with the next significant resistance level at $2,400, according to an analysis by CryptoPotato. The outlet noted that the upper resistance of a descending channel, observed from the peak in late 2025 to the low in February of this year, was recently breached. The nearest resistance is around the $2,400 mark, a level that has thwarted all breakout attempts since mid-March. Should ETH manage a daily close above this resistance, its next target could be the 200-day moving average, currently located at the $2,800 level. The analysis also highlighted a developing falling wedge pattern on the four-hour chart, a bullish signal that further supports a potential upward move.