Ethereum has recovered to around $2,500 after buyers defended support near $2,400, but the cryptocurrency must clear resistance between $2,527 and $2,550 before a larger move can develop.
ETH was up almost 3% over 24 hours on 18 September, trading between approximately $2,427 and $2,518. The rebound followed a fall towards $2,385 earlier in the week, although it has not yet confirmed a break from the range in place since late August.
Daily Bollinger Bands show immediate resistance at $2,549 and support around $2,467. On the four-hour chart, momentum has improved but the Supertrend indicator remains bearish below $2,526.61.
Wider market conditions remain mixed. The Federal Reserve raised interest rates by 25 basis points this week because of continuing inflation concerns, while the Senate failed to advance the CLARITY Act. Bitcoin and crypto-related stocks have since recovered, suggesting the market had partly priced in both outcomes.
Ethereum tests key technical resistance
On the daily chart, Ethereum rose from an opening price near $2,447 to about $2,505, recording a high of $2,522 and a low of $2,437.
ETH is now above the Bollinger midpoint at $2,467, which could provide dynamic support if the recovery weakens. The upper band is near $2,549, close to the psychological $2,550 barrier that has repeatedly halted advances since Ethereum’s sharp rise in August.
A daily close above $2,550 would take ETH beyond the upper end of its recent range. Resistance would then be visible around $2,600, followed by a wider supply area between $2,700 and $2,800. Failure to break higher would leave Ethereum within its existing consolidation, with support at $2,467 and then the lower Bollinger Band near $2,385.
The relative strength index is positive at 58.35, although its signal line is slightly higher at 59.74. While an RSI above 50 indicates stronger buying momentum, its position below the signal line means the breakout has not been fully confirmed.
On the four-hour chart, Ethereum has recovered from the 16 September sell-off, when it briefly fell below $2,400. It has since produced a sequence of higher short-term lows. Bull Bear Power has risen to 85.09, while positive histogram bars have expanded.
The Supertrend remains bearish at $2,526.61. A close above that level would bring the daily resistance at $2,549 into view, making the $2,527-$2,550 area a broader resistance zone. Four-hour support has risen to about $2,442; a break below it would expose $2,400-$2,385.
Liquidation levels above current price
CoinGlass’s one-week liquidation heatmap shows nearby liquidity at $2,490-$2,520, with larger clusters around $2,630 and $2,650. The $2,650 band is the brightest on the chart.
Such heatmaps show where leveraged positions could be forcibly closed but do not predict that price will reach those levels. A break above $2,550 could create volatility as short positions come under pressure, potentially drawing ETH towards $2,600 and the larger pools above it.
Liquidity is also concentrated near $2,440 and $2,410. A rejection at $2,550 followed by a fall below $2,440 could accelerate losses towards $2,400.
Pseudoanonymous trader Batman described the structure as a “rally-base-rally” setup, with a base near $2,385 and the range top around $2,550-$2,600. Analyst Ted Pillows also identified $2,550 as immediate resistance, saying a weekly close above it could support a move towards $3,000, while highlighting another major resistance area near $2,800.
Ethereum remains supported above $2,467, but only a close above $2,550 would strengthen the bullish case. A reversal below $2,442 would return focus to $2,400 and $2,385.
