ETH Price Drops Below $2,500 Amid Weak Momentum and Volatility

Ethereum's price has dropped below $2,500 due to weak momentum and increased volatility risk ahead of two major US events: the Federal Reserve interest rate decision and the Senate vote on the CLARITY Act.

The Ethereum price fell about 2% to near $2,475 after failing to sustain a move above $2,600. This indicates that the cryptocurrency is currently range-bound with key support near $2,469 and resistance around $2,550.

Traders are cautious, with leveraged positions clustered near $2,450-$2,470, which could trigger further volatility if broken. The market awaits these events to determine Ethereum's next direction, with potential downside if support fails or upside if ETH reclaims $2,550.