Ethereum slides below $2,500 as MACD turns bearish

Ethereum (ETH) slipped back below the $2,500 psychological level on September 15, trading around $2,475 after a failed breakout above $2,600. The move erased the short‑term rally and placed the token back into a consolidation range that has persisted since late August.

Technical outlook

On the 4‑hour chart, ETH is near the lower Bollinger Band at $2,469, with immediate support around $2,469 and resistance near $2,550. The Average Directional Index (ADX) reads 17.73, indicating weak trend strength. Daily indicators show fading momentum: the MACD line remains positive but has crossed below its signal line, and the histogram turned negative. The Relative Strength Index (RSI) dropped to 56.89, staying above oversold levels.

Liquidity and liquidation zones

CoinGlass heatmaps highlight clusters of leveraged positions below $2,470 and a stronger pocket of downside liquidity around $2,390–$2,410. A break below $2,450 could trigger further downside pressure, while a recovery above $2,550 might force short liquidations and enable another attempt at $2,600.

Key support and resistance

• Immediate support: $2,469 (4‑hour lower Bollinger Band)
• Near‑term support: $2,450–$2,470 liquidity zone
• Major daily support: $2,254 (0.786 Fibonacci level)
• Resistance: $2,550–$2,600 range
• Potential upside target: $2,833.75 (Fibonacci level)

Macro backdrop

U.S. market participants are watching two upcoming events: the Federal Reserve’s September 16 policy meeting, where markets price in a 25‑basis‑point rate hike, and the Senate’s procedural vote on the CLARITY Act, which could affect digital‑asset regulation. Higher oil prices and 10‑year Treasury yields above 5% add to risk‑off pressure on crypto assets.

Outlook

With weak momentum and a range‑bound ADX, ETH may remain confined to its current band unless it can reclaim the $2,550 resistance. A decisive break below $2,450 could open the path toward $2,400 and the larger daily support at $2,254, while a bounce above $2,550 could revive the bullish setup.