Ethereum regained the $2,400 level on Sept. 3, trading near $2,408 after an intraday dip to $2,370. The rebound kept ETH above its daily moving averages, with the 50-day SMA at $2,064.47 crossing above the 200-day SMA at $2,031.85 and Chaikin Money Flow at 0.22. However, the 4-hour chart remains weaker: RSI sits at 43.86, price is below the Bollinger Bands midpoint at $2,429.79, and sellers have repeatedly defended the $2,500–$2,550 resistance zone. Analysts warned that a daily or weekly close below $2,350 could expose $2,200.
Liquidation data from CoinGlass shows leveraged positions clustered around $2,350–$2,360 and $2,430–$2,450, with a larger concentration near $2,535–$2,550. Macro risks add pressure: renewed US-Iran tensions pushed Brent crude to $97.39, and Kalshi markets now price a 53% probability of a 25-basis-point Federal Reserve rate increase on Sept. 16, which could weigh on risk assets including cryptocurrencies.
Zcash also rebounded, climbing about 3.8% to near $847 after buyers defended the $780–$800 liquidity zone. ZEC remains above its 20-, 50-, 100-, and 200-day SMAs, but the daily RSI at 70.29 signals overbought conditions while its signal line at 75.79 points to cooling momentum. The 4-hour chart shows ZEC back above the Bollinger midpoint at $836, with resistance at $870 and then the $880–$890 recent peak. Liquidation clusters sit near $870–$890 and $780–$800, and derivatives activity dwarfs spot volume, with futures volume reported at $3.55 billion versus $312 million in spot and open interest at $1.58 billion.
Trader Altcoin Sherpa called ZEC a “1k waiting room” candidate but said its next move depends heavily on Bitcoin. For both assets, the next directional move may be amplified by leveraged positions and macro sentiment around Federal Reserve policy and energy-driven inflation.
