Ethereum price must break $2,530 to extend recovery

Ethereum price traded near $2,457 on Sep. 11 after recovering from a drop toward $2,400, but resistance around $2,500 continued to limit its advance. Summary Ethereum price recovered from $2,400 but remained below the $2,500 resistance level. Daily Bollinger Bands placed immediate support near $2,399 and resistance at $2,530. The 4-hour Supertrend remained bullish, with dynamic support at $2,423. Liquidation clusters near $2,490 and $2,530 could shape the next short-term move. Ethereum price action today Ethereum (ETH) was trading at $2,457 at the time of writing, below the psychological $2,500 level after failing to hold an intraday recovery. The daily candle remained up about 0.8%, having opened near $2,438 and reached a high of $2,485. However, the broader short-term chart showed repeated rejection between $2,490 and $2,530, preventing buyers from extending the rebound that began in August. ETH has consolidated mainly between $2,400 and $2,530 since its sharp rally from below $2,000. The price tested the lower end of that range on Sep. 10 before buyers pushed it back above $2,450. Persistent outflows from U.S. spot Ethereum exchange-traded funds have reduced one source of instit...