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Ether (ETH) opened the week with a drop below the psychological $2,000 level, placing the altcoin into a 20% loss for February. Still, onchain data shows long-term investors accumulating ETH and rising network usage.
Now, analysts are examining how ETH’s technical outlook and the derivatives data align with its emerging demand to determine if a prolonged rally above $2,000 is possible.
Key takeaways:
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Over 2.5 million ETH flowed into accumulation addresses in February, lifting holdings to 26.7 million…
https://cointelegraph.com/news/eth-chart-pattern-projects-rally-to-dollar2-5k-if-key-conditions-are-met-data?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
