Ethereum Stabilizes Above $2,400 as Profit-Taking Slows Rally

Ethereum's price has stabilized above the $2,400 mark this week, trading near $2,500 after a significant rally, though upward momentum appears to be slowing as investors take profits. The cryptocurrency's recovery has been underpinned by strong institutional demand through spot ETFs and broader market liquidity, but derivatives activity and network usage have yet to confirm the strength of the uptrend. The rally gained traction in late August, with ETH climbing from approximately $2,326 on August 21 to a weekly peak around $2,566 before consolidating.