Ethereum stalled again at $2,457 during trading on September 11, 2026. While its price briefly rebounded from a low of $2,400, it failed to hold above the psychological $2,500 mark.
ETH now faces a series of critical resistance levels capping its recovery. To restore the upward trend, buyers must reclaim the immediate obstacle at the Bollinger Bands middle line at $2,464.93. If that barrier is broken, the price still needs to clear the strongest resistance at the upper band of $2,530.38.
Dual Pressure: Dencun Upgrade and ETFs
The pressure on Ethereum is not solely tied to daily technical indicators. On the institutional front, outflows from Ether ETF products persist, draining a vital source of demand.
At the same time, the network faces structural headwinds from its own upgrade. The Dencun upgrade, designed to reduce transaction fees, brought unintended side effects to the supply dynamics. Consequently, the amount of burned ETH has dropped sharply, weakening Ethereum’s deflationary narrative.
Daily technical indicators also confirm slowing momentum since the August rally. The daily RSI dropped to 59.28 from its moving average of 63.97. Meanwhile, Aroon Up at 64.29% versus Aroon Down at 14.29% indicates that buyers still maintain market control, though upward momentum is no longer aggressive.
Decisive Support Levels
Amid fading bullish momentum, the $2,400 area serves as a decisive pivot for Ethereum’s next trajectory. A close below the key support at the lower Bollinger Band of $2,399.48 could immediately trigger a deeper breakdown. Nevertheless, the 4-hour Supertrend indicator continues to point to a bullish trend, with dynamic support holding firm at $2,423.40.
Analyst Ted Pillows noted that Ethereum’s price resilience today has actually outperformed Bitcoin. The swift bounce following the dip to $2,400 indicates that buyers have not lost control. As long as trading holds firmly above the $2,400 mark, bulls remain in charge of market direction.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
