Ethereum is facing selling pressure and struggling to maintain bullish momentum around the $2,400 mark.
A Golden Cross signal has been confirmed on Ethereum's 12-hour chart, hinting at a potential major bullish move towards $3,000.
Recent volatility in the market has caused uncertainty, with ETH hovering around crucial support at $2,400 amid rising selling pressure.
Bulls need to defend the $2,400 level and reclaim higher resistance near $2,600 for Ethereum to avoid a deeper correction and ignite a sustained rally.