Ethereum Stuck Between $2,400 and $2,530 as Buyers Struggle to Break Through

Ethereum ($ETH) is still hovering near $2,457 after its recovery from a drop towards $2,400. However, resistance around $2,500 continues to limit its advance.

The daily candle remains up about 0.8%, having opened near $2,438 and reached a high of $2,485. The broader short-term chart shows repeated rejection between $2,490 and $2,530, preventing buyers from extending the rebound that began in August.

Analysts identify $2,400 as the key level, with Ted Pillows stating that buyers remain in control as long as the price stays above that level. He also identified support around $2,200 and a lower level near $1,955 if the current rebound fails.