#ETH
Analysis of Ethereum price trend: Can it counterattack from $2,600 to $3,000?
Ethereum's price has fallen recently, but $2,600 has become its important support. Can Ethereum's price break through and return to the $3,000 mark this week?
Bitcoin is ready to go, and Ethereum is holding its ground
Bitcoin is brewing a wave of offensives, trying to launch an attack from the key support level of $95,000. Ethereum is holding on to $2,600, and despite the price fluctuations over the weekend, multiple low-price rejection signals show that Ethereum is gaining weak bullish support.
Can Ethereum make a comeback?
Despite the recent sharp drop in Ethereum prices, the $2,600 support level remains solid. The rejection signals at low prices and the changes in the MACD and signal lines all suggest that Ethereum may usher in a wave of rebounds. However, price fluctuations also show a fierce battle between bulls and bears.
Ethereum ETF Inflows and Institutional Demand
Despite the price drop, the Ethereum ETF still recorded an inflow of $420.2 million between February 3 and February 7. Although there was no new net inflow of Ethereum ETFs in the US on February 7, the six consecutive days of positive inflows indicate that institutions have undiminished confidence in Ethereum. This may mean that Ethereum prices are expected to rebound in the future.
Ethereum Big Investor Dynamics
In addition to institutional support, Ethereum's big investors are also adjusting their positions. According to Intotheblock data, Ethereum's position balance has dropped significantly since February. Among them, investors holding more than $10 million have reduced their positions by nearly 20%. This change undoubtedly increases the bearish pressure on Ethereum prices.
Ethereum Price Target Outlook
Although technical signals show a complex trend, price action analysis still points to a possible rebound in Ethereum. If the price can hold the $2,600 support level and successfully break through $2,746, it is not impossible to rise further to $3,957. Of course, if the price falls below $2,400, it may face greater downward pressure, with further support at $2,118.
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