One day after raising the alarm about a possible major eruption, authorities have lowered the alert level in and around a remote Alaska volcano.

A yellow alert -- the second most serious out of four possible levels -- has been issued for the Cleveland Volcano, the U.S. Geological Survey and Alaska Volcano Observatory announced around 2 p.m. (6 p.m. ET) Friday. This is down from the orange alert that had been put out Thursday.