Ethereum

bullish

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<p class="is-style-lead">Ethereum price is eyeing a breakout from the $2,400 resistance, which has capped the token’s gains over the past week.</p><div id="cn-block-summary-block_82403defc4311a48574a2a821f4d93e4" class="cn-block-summary"><div class="cn-block-summary__nav tabs"><span class="tabs__item is-selected">Summary</span></div><div class="cn-block-summary__content"><ul class="wp-block-list"><li>Ethereum price is testing the $2,400 resistance after rebounding to $2,393, with repeated rejections keeping its price within a tight range.</li><li>Technical indicators signal potential upside, with a looming MACD bullish crossover and Supertrend remaining in an uptrend since mid-March.</li><li>ETF inflows ($101M) and declining exchange reserves (14.5M ETH, lowest since 2016) point to improving demand and reduced sell pressure.</li></ul></div></div><p>According to data from crypto.news, Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) price rebounded 3.5% to $2,393 on May 4 before facing rejection at $2,400 and stabilizing around $2,370 at press time. While Ethereum has briefly broken above the $2,400 mark on two occasions over the past month, the altcoin lost momentum and quickly retraced below the level.</p><p>However, at press time, several technical and fundamental factors suggest that the token could finally escape from the narrow trading range.</p><p>Notably, on the daily chart, Ethereum price is approaching a bullish MACD crossover, which typically signals a shift toward upward momentum. The last time such a positive crossover occurred, Ethereum price rose nearly 25% within a month.</p><figure class="wp-block-image size-full"><img width="1827" height="954" src="https://media.crypto.news/2026/05/ETHUSDT_2026-05-04_13-47-57.webp" alt="Ethereum price, Supertrend, and MACD chart." class="wp-image-14459341"><figcaption class="wp-element-caption"> Ethereum price, Supertrend, and MACD chart — May 4 | Source: <a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">crypto.news</a></figcaption></figure><p>You might also like: <a href="https://crypto.news/bitcoin-price-surges-past-80k-as-trump-announces-project-freedom/" rel="noopener noreferrer nofollow"> Bitcoin price surges past $80K as Trump announces “Project Freedom” </a></p><p>The Supertrend has remained green since mid-March, a sign that the broader market structure remains in an uptrend despite recent price fluctuations.</p><p>At press time, Ethereum price was near the 61.8% fibonacci retracement level at $2,381, a sign that bulls are aggressively defending the mid-range zone. A decisive break above the current resistance could trigger a breakout from the $2,400 and a move towards the next key 38.2% retracement level at $2,772 if bullish momentum holds.</p><p>Besides strong technical signals, on-chain demand also seems to support a potential rally. <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">Data</a> from SoSoValue show that Ethereum ETFs recorded over $100 million in net inflows last Friday, breaking off a 4-day negative streak, which saw $183 million in outflows.</p><p>While this is not yet a sign that institutional investors will go all in immediately, it shows renewed appetite for the asset, especially if the positive flows continue to show up this week.</p><p>Another catalyst that could support Ethereum’s gains is the drop in ETH balances on exchanges. Per data from CryptoQuant, Ethereum exchange reserves have fallen to 14.5 million, the lowest level since mid-2016, indicating reduced selling pressure on the token.</p><p>Read more: <a href="https://crypto.news/stablecoins-may-be-ready-for-a-major-rebrand-a16z-says/" rel="noopener noreferrer nofollow"> Stablecoins may be ready for a major rebrand, a16z says </a></p><p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>

Will Ethereum price break past $2,400 resistance as bullish MACD crossover approaches?

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