Ethereum Hits Resistance at $2,550

Ethereum is showing signs of life today. The price climbed nearly 6 percent from its low point over the last day to trade around $2,524 on September 4. This move marks a recovery attempt for the asset after a period of downward pressure.

Despite the positive momentum, Ethereum is currently bumping against a familiar resistance level near $2,550. This specific zone has proven difficult to break through, as previous rallies have stalled here multiple times. Traders are watching this area closely to see if buyers have enough strength to push through.

The Relative Strength Index is now sitting near 67. This indicator shows that buying pressure is building up, but it also warns that the asset is getting close to overbought territory. Market participants will be looking for a clean break above $2,550 to confirm that this rally has legs.