The Ethereum price is currently the second highest and it is also the second largest cryptocurrency by market capitalization. Due to predictions by crypto marke

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.

The Ethereum price has steadily declined since June, and a renowned analyst has predicted that this altcoin will continue slumping. As a result, investors

Ethereum price finds support around its 50-day EMA at $2,538, suggesting a possible rally ahead. On Tuesday, US spot Ethereum ETFs recorded a mild outflow of $12.70 million. Lookonchain data and Sentiments Network Realized Profit/Loss show some investors are booking profits.

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