ETH Hits $2,393 Peak, Rejects $2,400 Fifth Time as $2,300 Support Holds

Ethereum surged to a $2,393 intraday high on May 4, testing $2,400 resistance for the fifth time amid Bitcoin's rally and bullish MACD/Supertrend signals, but rejected and settled near $2,350 above the 100-hour SMA and $2,300 support. Following mid-April breakdowns below $2,350 and a post-FOMC plunge to $2,220-$2,241 lows on May 1 after four prior rejections, ETH rebounded supported by record-low exchange reserves at 14.5M ETH (2016 levels), $101M spot ETF inflows on April 28, and whale accumulation of 140K ETH. Upside breakout above $2,420 targets $2,550-$2,700 or $3K bull flag, but sub-$2,300 risks $2,220 retest.