ETH chart pattern projects rally to $2.5K if key conditions are met: Data

Ether is down 20% in February, but a developing bullish setup below $2,000 and growing upside liquidation clusters hint at a quick rebound.

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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