Ethereum Price Volatility Continues Amidst Market Uncertainty

Ethereum's price action remains uncertain as the cryptocurrency trades near $2,000 amid market volatility and macroeconomic uncertainty.

According to recent data, Ethereum has experienced a steady decline in February, falling nearly 19% from its opening price of around $2,450. This decline underscores the sustained selling pressure and lack of bullish conviction in the market.

Technical indicators are also signaling heightened risk, with ETH briefly dipping below $2,300 on February 1. A drop below $2,245 could trigger over $530 million in long liquidations, while a rebound above $2,477 might force over $1 billion in short liquidations.