Critical Recovery from Ethereum! 2,400 Dollar Level Recovered

Ethereum, after the recent volatility it experienced, rose again above the critical $2,400 level. In the last 24 hours, the cryptocurrency moved between $2,370 and $2,452, gaining roughly 2% to reach $2,451. Market focus has now shifted to the resistance zone between $2,500 and $2,550.

Critical Level Retracted in Ethereum

Ethereum's rise above $2,400 supports the short‑term outlook. While the cryptocurrency also surpassed the $2,438 Fibonacci level, the resistance zone that has applied pressure since the end of August remains unbroken.

Thus investors are closely monitoring whether the rally will be sustained and whether the price will break through the $2,500 level.

Geopolitical Pressure Persists in the Market

Volatility in the cryptocurrency market is not limited to technical levels. Rising tensions between the United States and Iran are also dampening global risk appetite.

The rise of Brent crude to $97.39 on September 3, driven by conflicts, has reinforced worries that energy costs could further pressure inflation. Markets are also focused on the Federal Reserve’s interest‑rate decision to be announced on September 16.

Short‑Term Momentum Still Weak

On the four‑hour chart, Ethereum’s lower highs after its August‑end rally paint a cautious short‑term picture.

The RSI staying below the 50 level also shows that momentum has not yet signaled a strong upward move. Conversely, the price breaking above the Bollinger middle band near $2,430 has given a recovery signal in the short‑term outlook.

$2,350 Level Holds Significance

According to CoinGlass data, leveraged positions are clustered both below and above Ethereum’s current price. The $2,350–$2,360 zone serves as critical support in down‑trend moves.

It is said that if the level is broken below, the liquidation of long positions could increase selling pressure. In upward moves, the 2,535-2,550 dollar range stands out as a prominent resistance zone.

Different Scenarios from Analysts

Analyst Daan Crypto Trades regards the 2,400 dollar level as a critical threshold for determining whether Ethereum is experiencing a normal pullback.

Ted Pillows believes that a weekly close below 2,350 dollars could trigger a new downward wave that could push Ethereum down to the 2,200 dollar level. Above, the 2,540 and 2,800 dollar levels are highlighted as key resistance points.

Ethereum is currently holding above the 2,350-2,400 dollar support zone, while investors' focus is on the 2,493-2,550 dollar resistance band.