ETH Stalls at $2.4K as RSI Divergence and Negative Funding Signal Rejection

Ethereum (ETH) is trading near $2.3K and remains close to recent highs, but its breakout attempt above the $2.4K resistance zone is losing follow-through. The daily chart is still constructive: ETH has reclaimed key moving averages and reclaimed a long-term descending channel, while daily RSI has been grinding up since February and holds above 50. However, price is now fighting a confluence of the 100-day moving average and the $2.4K supply area. The next upside levels traders watch are $2.8K and the 200-day MA near ~$2.9K. Failure to hold above $2.4K keeps the risk of a false breakout. On the 4-hour timeframe, the latest update is more cautious: after a brief push over $2.4K, ETH reversed and printed bearish RSI divergence (higher price high near ~$2.5K, lower RSI high), followed by a pullback to around $2.32K. ETH is retesting a bullish trendline from early-April lows near ~$2.0K; holding it would preserve higher-lows and set up another attempt at $2.4K. A breakdown would shift attention to $2.0K first, then the $1.8K support band. Derivatives remain a headwind: funding rates stay negative through April, suggesting futures positioning expects rejection around $2.4K. For sustained recovery, spot demand must confirm—otherwise the move could stall or fade. Separately, prior on-chain signals showed February capitulation with a spike in active addresses, which looked more like forced-liquidation fear than organic demand; since then, active addresses have cooled, so a sustained trend needs participation to turn up.