The post Ethereum (ETH) Headed for Worst February With 23% Drop: Details appeared on BitcoinEthereumNews.com.

Ethereum, the second largest cryptocurrency by market capitalization, could be heading for its worst February, with prices already down 23% this month. Historically, February has been bullish for ETH, with only one red month in 2018. However, this year seems to be shaping up as an exception, as ETH struggles under intense market pressure and macroeconomic uncertainty. Related At the time of writing, ETH was down 12% in the last 24 hours to $2387, mirroring a broader market sell-off. Bitcoin fell to $87,611, its lowest level since Nov. 15. Other cryptocurrencies also plummeted, with Ethereum, XRP and Solana down sharply for the session. $ETH could be heading for its worst February if it drops below $2400. 📉 Historically, February has been bullish for ETH, with only one red month in 2018. But with a 23% drop already, this could be another exception. Macroeconomic uncertainty, including new tariffs from the… pic.twitter.com/YyW5ZhIv7V — Spot On Chain (@spotonchain) February 25, 2025 According to CoinGlass data, more than $1.34 billion in bullish crypto positions were liquidated on derivatives markets in the last 24 hours. Per Spot On Chain, if ETH falls below $2,400, it could experience deeper losses, culminating in its worst February on record. With ETH trading below this key level, the focus is on where the price of ETH will go next. What indicators and analysts suggest According to Ali, a crypto analyst, one of the most critical support levels for Ethereum now sits at $2,300. According to a recent Glassnode analysis, the ETH Cost Basis Distribution (CBD) shows multiple cost bases have been moving lower, indicating investors have been accumulating on the way down. Accumulation zones show key support at $2,632, with 786,660 ETH held at this level and resistance at $3,149, where 1.22 million ETH are being held. This trend…

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Filed under: News - @ February 25, 2025 4:25 pm