Ethereum Price Forecast: Will Bullish Momentum Carry ETH Above $2,400?

After surging past the $1,800 mark over the past two days, Ethereum (ETH) prices are currently trading around $2,365. This recent rally has seen Ethereum rise nearly 30% since May 7th, ranking among the strongest recoveries of top altcoins this week. Analysts point to expanding DeFi applications and growing institutional interest for this price surge. A clean breakout above a multi-month descending trendline has brought attention to the psychological $2,400 barrier as a key focus point for traders.