Ethereum Stuck Below $2,535 Amid Regulatory Concerns

Ethereum's price has been struggling to break above $2,535 due to weak momentum and regulatory concerns. As of September 9, the cryptocurrency hovered near $2,500, with buyers defending short-term support around $2,478.

The Ethereum price is currently facing resistance between $2,525 and $2,535, with a daily close above this level potentially opening up a path towards $2,600 and possibly $3,000. However, failure to hold $2,478 could lead to a drop towards $2,430 or lower.

Market watchers are awaiting the Federal Reserve meeting and U.S. Senate vote for clearer direction on the market's trajectory.