Ethereum (ETH) Price: Three Weeks of Consolidation - Traders Are Watching These Two Levels

TLDR

• ETH is trading near $2,486–$2,500, stuck in a tight range for over three weeks.
• Open interest has lagged price growth, pointing to weak conviction from leveraged traders.
• US spot ETH ETFs saw $24.3 million in net outflows on Tuesday.
• Key resistance sits at $2,525–$2,535; a close above could target $2,550–$2,600.
• Downside support levels to watch are $2,478, $2,435–$2,445, and $2,350–$2,360.

Ethereum is trading near $2,486 on September 9, holding just below the $2,500 mark after several weeks of tight consolidation. The price has been range-bound between $2,431 and $2,544 with no clear breakout in either direction.

Buyers have stepped in repeatedly around the $2,478–$2,485 zone, but each recovery attempt has run into selling pressure between $2,525 and $2,535. That resistance band has capped price action consistently since ETH’s August rally.

ETH currently trades above its 20-, 50-, 100-, and 200-day Exponential Moving Averages, which keeps the broader technical picture leaning bullish. The 20-day EMA near $2,403 is acting as the closest dynamic support below price.

… Continue reading the full article at the original source below.