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. 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.

Source: crypto.news