Ethereum stalls below $2,500 as short‑term momentum wanes

Ethereum (ETH) hovered around $2,475 on Sept. 8, slipping about 0.6%‑0.7% over the previous 24 hours and remaining under the $2,500 psychological barrier that has limited recovery attempts since early September.

Technical picture

On the 4‑hour chart the price sits just below the Bollinger Band midpoint at $2,485, with the upper band at $2,517 and the lower band at $2,453. The Average Directional Index (ADX) reads 11.1, indicating a weak short‑term trend. A close above $2,517 could open a path toward the $2,540‑$2,550 resistance zone, while a break below $2,453 may expose the price to a decline toward $2,400.

Liquidity and liquidation clusters

CoinGlass data show dense liquidation clusters near $2,445‑$2,460 on the downside and around $2,515‑$2,520 and $2,540‑$2,550 on the upside. A move below $2,450 could trigger long liquidations and accelerate a slide toward $2,400, whereas a recovery through $2,500 may spark short liquidations and push the price toward the upper clusters.

Macro backdrop

Stronger‑than‑expected U.S. employment data (162,000 jobs added in August) raised expectations of a Federal Reserve rate hike at the September meeting, with market pricing indicating roughly a 60% probability. Higher rates tend to reduce demand for volatile assets like ETH. Additionally, Brent crude rose to $98.66 per barrel amid Middle‑East tensions, adding inflationary pressure.

Outlook

Analysts note that ETH remains above the Supertrend support at $2,319 and the Awesome Oscillator stays positive, though bullish momentum has weakened since August. The short‑term range of $2,450‑$2,517 is likely to persist until a decisive break either above the upper Bollinger Band or below the lower band occurs.