Ethereum (ETH) is trading near $2,474 after recovering from a sharp rejection in the $2,520-$2,550 range. Analysts DonAlt and Crypto Patel are closely monitoring the $2,400-$2,570 band, and the latest price data points to moderate bullish momentum. How ETH behaves at these levels could determine whether it retests recent highs or drops back below $2,000.

The stakes of this range are straightforward: ETH has been oscillating between roughly $2,400 support and $2,550-$2,570 resistance, and each failed push higher has so far been met with selling, while dips toward the lower boundary have attracted buyers. Range-bound behavior like this often compresses volatility until a decisive breakout or breakdown sets the next trend, which is why both analysts frame a higher-timeframe close above $2,570 — or a loss of $2,400 — as the key inflection points to watch.

ETH Rebounds After Rejection

ETH climbed toward $2,520-$2,550 around August 30-31 before sellers pushed the price down toward $2,400. Buyers then returned strongly, lifting ETH back to roughly $2,474. The price currently sits just below immediate resistance at $2,480.

A breakout above $2,480 could put $2,520 and the recent high of $2,550 back in focus. On the downside, $2,440 serves as intermediate support, while the $2,400-$2,410 area forms the stronger support zone established during the recent sell-off.

DonAlt commented that ETH has "real good support" around $2,100 and identified only limited resistance up to $4,000. However, he cautioned that a failure below $2,000 could send ETH down toward $1,000. The $2,000 level carries added significance as a round-number psychological threshold and the boundary between the current trading structure and the deeper downside scenarios both analysts outline.

Crypto Patel Watches $2,570

Crypto Patel flagged $2,500-$2,550 as major higher-timeframe resistance, arguing that ETH needs a decisive higher-timeframe close above $2,570 for bullish confirmation. In his view, a rejection between $2,400 and $2,500 would raise the likelihood of another move below $2,000. He also pointed to $1,200-$1,000 as a risk zone if the current lower high remains intact.

Patel maintains a long-term $10,000 ETH target, though he noted that current levels require confirmation before another major directional move.

Technical indicators reflect the moderate momentum. The RSI stands at 53.46, keeping momentum above the neutral 50 level, with its moving average near 55.02. The MACD remains positive, with the MACD line at 5.07 versus 4.55 for the signal line. Readings in this zone are consistent with the range-bound picture: momentum is neither stretched enough to signal an imminent breakout nor weak enough to indicate deteriorating buying interest.

$2,440 Holds as Buyers Return

Within the current structure, $2,440 remains pivotal for ETH's short-term price action. Holding above that level could keep attention on the $2,480-$2,520 range, while a break below it could bring another test of $2,400.

The rebound follows a clear sequence: ETH rejected the upper end of its range, sold off sharply, and then recovered toward immediate resistance. Traders are now watching whether ETH can clear $2,480 before attempting the more significant $2,570 level — a level that, per Crypto Patel's framework, would confirm the bullish case on higher timeframes, while continued rejections there keep the sub-$2,000 scenarios in play.