Recently, the price of Ethereum has shown weakness, continuing to fluctuate in the range of $2480 to $2580. Although there was a slight increase last week, overall, it has been in a sideways state for five consecutive weeks, and this week will mark the sixth week of consolidation.

From a technical analysis perspective, Ethereum is likely to test the key support level of $2400 in the short term, and investors may consider placing buy orders at this position. It is worth noting that if the $2400 support level is effectively broken, the market may shift toward a bearish trend. Currently, Bitcoin's upward momentum is struggling to drive the overall cryptocurrency market, and many small crypto asset projects have been significantly cashed out by major funds. The anticipated rally of small-cap coins seems to still be out of reach.