Ethereum [ETH] was back to $2.6K after reversing losses in the first half of October. The largest altcoin logged about 12% in recovery gains after jumping from $2.3K to over $2.6K. At press time, ETH was valued at $2,614 but hit a key roadblock below $2700.

Ethereum price broke above the daily resistance level at $2,461 and rallied 6.5%, closing well above its 50-day Exponential Moving Average (EMA) at $2,544 on Monday. After such a rally, ETH declined to test the 50-day EMA at $2,544 and bounced off on Tuesday. At the time of writing on Friday, it is trading slightly up at around $2,600.

This market setup suggests buyers are stepping in, and Ethereum might witness more uptrends in the coming days. So, what's next for ETH?

The price of ethereum, or 1 ETH, traded at $2,630.03, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.

Ethereum (ETH) stabilizes around $2,600 on Tuesday after a 6.5% rally on Monday that led prices to break through key resistance levels. Some signs of a mild recovery emerged via inflows into Spot Exchange Traded Funds (ETFs) and a surge in open interest,