After a previous round of gains, Ethereum has seen a pullback, with its price currently back near $2400. Previously, ETH rose from around $1900 to $2550 and then consolidated at that high level.

$2,400 to $2,420 serves as short-term support.

The current market focus is on the range of $2400 to $2420. If the price can hold this range, ETH may first return to the $2480 to $2500 area, and then test the $2535 to $2555 level.

Still watching the situation around the $2,555 level for a breakout above.

If ETH reclaims the upper high area, the price range is expected to move higher further. The text mentions that if it breaks through the resistance around $2555, it could subsequently point towards $2600 to $2650, and then towards $2750, or even $3000.

If it falls below $2,400, or even looks set to go down to $2,350...

If the support level of $2,400 is broken through, the market will next focus on the buying interest around $2,350. Overall, ETH is still in a critical observation phase after the pullback, with the $2,400 area becoming the dividing line between bulls and bears.