The crypto market experienced a bullish recovery overnight, bringing Ethereum back to the $2,600 mark, amidst ongoing uncertainty among investors.
Increase in ETH Volatility
Ethereum added 2% in 24 hours with a trading volume of $18.542 billion. However, it lost 1.55% over the last week and 16.64% over the last month. The Relative Strength Index (RSI) reached its oversold range, indicating increased buying interest.
Ethereum ETF: Deteriorating Cash Flow
On February 10th, eight out of nine Ethereum ETFs recorded a neutral flow for the third time this month. However, Grayscale's ‘ETHE’ reported a loss of $22.5 million, breaking its inflow streak of seven days.
ETH Price Prospects
If the market favors the bulls, Ethereum's price might reach its resistance level at $2,870 and possibly $3,300. However, intensified bearish sentiment could lead to a decrease to the support levels of $2,530 or even $2,175.
Amidst volatile conditions, Ethereum's prospects remain uncertain, likely shifting with changes in market sentiment.
