Ethereum Price Trapped Between Resistance and Support Zones

Ethereum's price remains stuck in a tight range between $2,390 and $2,550. The cryptocurrency has been trying to break above this resistance level for several days but so far hasn't succeeded.

Despite the failure to push above $2,550, Ethereum still holds onto its 28% monthly gain. However, momentum has cooled down significantly since the August rally, with the daily RSI reading at 68.34, close to overbought territory.

The next key level for Ethereum is around $2,400, which serves as both a support and resistance zone. A break below this level could force leveraged long positions to close and increase short-term volatility.