ETH may rally to $2,700 if it overcomes $2,400 resistance

ETH could see further upside to $2,700, the level of its 200-day moving average (MA), if it breaks above the $2,400 resistance on a daily closing basis, according to an analysis by CryptoPotato. The outlet noted that ETH has been consolidating near the $2,400 mark for approximately three months. It is currently testing for support above its 100-day MA around $2,200, with the Relative Strength Index (RSI) remaining neutral at a level of 55. On-chain metrics show signs of structural improvement, with a continued decrease in exchange reserves and a trend of accumulation. Conversely, a daily close below $2,200 could trigger a decline of around 15%.