Ethereum Price Recovery Hinges on Breakthrough at $2,526

Ethereum's price recovery is uncertain as it hovers near $2,420 after a sharp sell-off. The token rebounded from an intraday low of $2,382.70 but still faces resistance at around $2,465.

The Digital Asset Market CLARITY Act failed to advance in the U.S. Senate, leading to market pressure and intensifying selling. Ethereum's price was particularly vulnerable due to several failed attempts to remain above the $2,500 area.

Derivatives added to the pressure, with Ethereum accounting for about $250 million in liquidations during the broader market decline. The loss of $2,450 forced leveraged long positions to close.