Ethereum price rebounds 4%: Can ETH break above $2,550?

Ethereum price has recovered more than 4% to approximately $2,462 on October 16, following a drop toward $2,325 as traders examine whether declining exchange reserves can support another attempt to break above $2,550. Summary Ethereum gained approximately 4% over 24 hours after recovering from Thursday’s recent low near $2,325. CryptoQuant reported Binance Ethereum reserves fell 430,000 ETH between August 25 and October 16, 2026. Analyst Ted Pillows identified $2,550 as important resistance following Ethereum’s bounce from the $2,350 zone. Binance Ethereum open interest declined 4.7% over 30 days, according to CryptoQuant analyst CryptoOnchain recently. BitMine reported holding more than six million ETH, approximately 4.9% of circulating supply, in October. CoinGecko recorded Ethereum (ETH) at $2,460 at press time, with a market capitalization of approximately $300.6 billion and daily trading volume of $14.38 billion. The cryptocurrency traded between $2,324.97 and $2,463.31 over the previous 24 hours, recovering much of Thursday’s losses. The rebound followed stronger-than-expected U.S. inflation figures that triggered selling across cryptocurrencies and technology stocks. Ethereu...