Ethereum price retests $2,550 as RSI nears 67

Ethereum price rebounded nearly 6% from its 24-hour low to trade near $2,524 on Sept. 4, but the recovery has brought $ETH back to a resistance zone that has rejected several breakout attempts.

Ethereum price rebounds toward $2,550

According to data from crypto.news, Ethereum ($ETH) price was trading around $2,524 at the time of writing, up approximately 5.7% over the previous 24 hours. The rebound followed a fall to roughly $2,370, leaving $ETH about 6.5% above its intraday low.

The recovery coincided with a broader crypto rally that lifted Bitcoin above $81,000. US markets also moved higher after Federal Reserve Governor Christopher Waller said he could support keeping interest rates unchanged if inflation continued to ease.

Waller’s comments reduced expectations for a rate increase at the Fed’s Sept. 15–16 meeting. Treasury yields and the US dollar declined as traders adjusted their interest-rate positions.

Weak US employment data added to the shift. The ADP National Employment Report showed private employers created 38,000 jobs in August, below economists’ estimate of about 47,000. The reading gave rate-sensitive assets further room to recover before the official US employment report.