$ETH ### 1. **Recent Price Performance**

- **Short-term Volatility**: The price of ETH experienced multiple fluctuations in February 2025. On February 18, it briefly fell below $2716 (a daily drop of 1.02%), and then rebounded to $2723 on February 20, indicating a swing in market sentiment.

- **Medium to Long-term Trend**: Over the past 90 days, ETH reached a peak of $4106 (about 3 months ago), but the current price is still down 43.98% from the historical high of $4864, indicating that the market is still in an adjustment phase.

### 2. **Technical Indicator Analysis**

- **MACD and KDJ**: Recent MACD histogram shows strengthening bullish momentum, but the KDJ indicator is neutral (values 43-69), with no clear golden cross or death cross, indicating a lack of clear market trend direction.

- **Trading Volume and Momentum**: Since mid-February, there have been several instances of price increases accompanied by declining trading volume, suggesting weakening upward momentum. For example, on February 19, when the price fell, trading volume increased, reflecting increased selling pressure.

- **Support and Resistance Levels**: The current key support level is between $2630 and $2635, with resistance at $2755 to $2766. A breakout above the resistance may continue the upward trend, while a drop below the support could trigger further declines.

### 3. **Market Sentiment and External Factors**

- **ETH/BTC Exchange Rate**: Strategists point out that the ETH/BTC exchange rate may be bottoming out; if it breaks above the monthly high, it could drive a trend reversal, potentially giving ETH upward momentum independent of Bitcoin.

- **Institutional Fund Inflows**: Earlier, there was a surge in ETF inflows (e.g., Fidelity holding $1.25 billion in ETH), which could provide long-term support for prices, but is highly influenced by short-term market sentiment.

- **Bitcoin Correlation**: The price of ETH remains influenced by Bitcoin's dominance, and it is important to monitor whether Bitcoin can break through key resistance levels to drive the overall market.

### 4. **Future Predictions and Risks**

- **Short-term (2-3 months)**: If market sentiment improves and breaks through resistance, it may test the $3000 level; however, if selling pressure persists, it could pull back below $2500.

- **Long-term (2025)**: Some institutions predict that ETH could reach $4500 to $5087 in 2025, but this will depend on Bitcoin's performance, Ethereum ecosystem upgrades (such as L2 scaling), and the regulatory environment.