Ethereum Price Falls Below $2,400 Amid US-Iran Tensions

The Ethereum price fell below $2,400 on September 2 due to renewed fighting between the United States and Iran, which pushed up oil prices and Treasury yields.

This increase in inflation concerns weighed heavily on risk assets, causing demand for Ethereum to weaken.

The price of Ethereum has now lost about 5.5% from its August highs near $2,510, with sellers pushing the token through the $2,400 psychological level.

The daily relative strength index fell to 59.46, indicating that bullish momentum has cooled, while shorter-term indicators suggest that sellers retain short-term control.