Is Ethereum Below $2,400 a “Steal”? Analyst Predicts Surge Toward All-Time High

Michaël van de Poppe, a well-known cryptocurrency analyst, shared a bullish outlook on Ethereum (ETH) in a post on X dated May 17, 2025.

He claimed that any ETH price under $2,400 is a “steal” following the recent surge, suggesting Ethereum could continue its upward trajectory. His post included a chart showing Ethereum’s sharp rebound after bottoming out below $2,000 earlier.

Chart Shows ETH High Support and Key Resistance Zones

The TradingView chart shared by Van de Poppe illustrates Ethereum’s price action against Tether (USDT) on the Binance exchange. It shows ETH rallied sharply in early May 2025 after a prolonged downtrend. The chart marks a clear high timeframe support zone for ETH near $2,100 and a resistance area identified between roughly $2,600 and $2,800, with Van de Poppe specifically noting $2,750 as a resistance point.

Ethereum $2,400 Buy Zone Highlighted. Source: X

Van de Poppe labels the $2,400 level as a “significant opportunity,” implying that current prices still offer value before potential continuation of the uptrend. His projection indicates a possible consolidation near resistance, followed by further upside.

Ethereum Eyes Upside Breakout

Van de Poppe’s analysis aligns with growing optimism across the crypto market. Ethereum’s current structure suggests that traders could monitor the $2,100 to $2,400 range for signs of support and accumulation.

The chart implies a bullish setup, where a confirmed breakout above the resistance zone may lead to further gains. The directional arrow on the chart points toward new highs, though no exact timeframe is provided.

Ethereum RSI Breaks Key 50 Midpoint

Meanwhile, Ethereum’s Relative Strength Index (RSI) has climbed to 52.49, breaking above the neutral 50 mark for the first time since March 2025. The moving average of the RSI currently stands at 38.40, reflecting earlier weakness.

Ethereum RSI Breaks Above 50 for First Time Since March. Source: TradingView

This upward move indicates increasing buying momentum. The RSI measures the speed and strength of price changes on a scale from 0 to 100. Levels above 70 are considered overbought, while those below 30 suggest oversold conditions. A position above 50 typically signals bullish pressure.

Ethereum’s RSI stayed below 50 throughout recent months, reflecting seller control. The current breakout shifts this dynamic. The last meaningful upside occurred in early 2024, when RSI briefly surged to 85 before reversing.

The present rise shows a renewed trend shift without extreme conditions. Unlike earlier failed attempts, this move has also cleared its moving average.

The RSI’s advance above both its average and the midpoint level signals a potential trend reversal. It highlights a growing change in sentiment. This may support further gains if broader market conditions align.

With RSI direction turning upward, traders now have an early signal to monitor price continuation, especially if volume confirms the momentum.

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