Ethereum Price Drops Below $2,400 But Analysts Remain Bullish on Future Upside
• Ethereum (ETH) price has fallen below $2,400, trading close to support levels in an ascending parallel channel over the past 95 days
• Daily RSI is bearish and generated a divergence before the drop, signaling downward momentum
• Despite price drop, analysts on X remain bullish on ETH with targets between $2,700 to $2,800
• The 4-hour chart shows a potential bounce at channel support and descending wedge, which could lead to a move up towards $2,580
• A breakdown below the channel could trigger a further 9% drop to around $2,170 support level