Ether triple top strikes at $2.4K as ETH analysts doubt bullish trend change

Ether charts flash an ominous triple-top pattern as ETH fails to overcome $2,400. Will bears maintain control over the altcoin’s price action?

Ether (ETH) fell 3.4% to $2,287 on Monday, after its fourth rejection at the $2,400 level since April 14. The price continues to trade below the 100-day moving average, with over $2.5 billion in liquidation risk concentrated near the $2,150 support zone.

Crypto analyst Michaël van de Poppe also flagged weakness in Ether relative to Bitcoin, raising doubts about the strength of any near-term uptrend. 

Ether has failed to break $2,400 four times over the past two weeks, forming a clear triple top pattern on the daily chart. Each retest saw a loss of strength near that level, suggesting supply absorption by sellers.

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