Ethereum price was rejected twice near the $2,400 zone at $2,358.

The price is consolidating between the moving averages and the rejection zone at $2,400.
The realized price is around $2,330: breakeven sellers are active.
ETF inflows turned negative: -$82.47 million in the week ending May 1.
The sudden surge in March to $2,450 failed: excess supply still exists.
The RSI at 57 indicates weak momentum near its highs.
A breakout requires a daily close above $2,400 with trading volume.
The same zone rejected Ethereum twice.
Ethereum is trading at $2,358 on May 4. This is not the first time it approached $2,400; it has reached this level before and failed.
In mid-March, Ethereum rose to $2,450, then retreated.
The price dropped again toward $2,000 in the following weeks.
In mid-April, Ethereum recovered to around $2,440 before returning to its current range.
We have seen two separate attempts to break through the same zone, both unsuccessful.
The $2,380 to $2,400 range is not a new level; it is a level the market has already decided it is not ready to break at this stage of the cycle.