Ethereum (ETH) is experiencing one of its worst February performances in history, teetering near the critical $2400 mark. Historically, February has been a bullish month for ETH, but this year presents a different story.
Historical Trends vs. Current Market Conditions
ETH has historically shown strong performance in February due to seasonal bullish trends and market momentum. However, this year, significant sell-offs have dragged prices lower. If ETH falls below $2400, it will mark its worst February since 2018, raising concerns about a prolonged downtrend.
Macroeconomic Uncertainty Weighs on ETH
Beyond technical factors, macroeconomic conditions are adding to the downward pressure. Recent developments, including potential new tariffs, have created uncertainty in global markets. Investors are reacting cautiously, leading to increased volatility in cryptocurrencies like ETH.
What’s Next for Ethereum?
While ETH faces strong resistance in its recovery, analysts remain divided on whether the downtrend will continue. Bulls are looking for signs of a bounce, potentially driven by positive on-chain activity or renewed market confidence. However, if ETH fails to hold above $2400, further downside could be expected.
As the month nears its end, all eyes are on ETH’s price action. Will it stage a recovery, or is more downside ahead? Traders and investors should stay cautious and monitor key levels closely.
