The price of Ethereum erupted for a six -year decrease in February

Ethereum price crashed, making it one of the worst cryptocurrency currencies in February.

ethereum (EthHe decreased to the lowest level of $ 2075, its lowest level since January 2024 and about 50 % lower than its highest level in November 2023. The continuous decline broke the second largest record of tracking in the advanced currency for six years. This represents the first decrease in February for Ethereum since 2018 and the worst February performance.

ETHEREUM’s decline was more severe than its biggest rival. Bitcoin (BTC(25 % of its highest level has decreased this year, while Ripple (XrpAbout 40 % decreased in the same period.

ETHEREUM has partially decreased due to the ongoing external flows in the stock market. All investment funds circulated in the immediate ETHEREUM instant losses for six days in a row, amounting to cumulative assets in these funds to $ 2.86 billion. Likewise, the Instant Bitcoin Investment Funds threw more than $ 4 billion of assets.

Ethereum has also struggled with the continued loss of its market share for the other Layer-1 and Layer-2 projects. Among the most famous competitors are class 1 networks such as Solana (Teller) And Bnb Smart Chain, as well as Layer-2 networks such as base and definition.

Fear in the broader encryption market also contributed to the low Ethereum index, as the Fear & Greed index fell to 33.

Ethereum price loses the main support because it constitutes the death of death

The price of ETH continued, as Propagate In our previous analysis, where we cited the pattern of the downsic science scheme. The science pattern consists of a long header, followed by monotheism. This monotheism shaped a rising wedge style, a well -known continuous signal.

Worse, Ethereum has just formed a cross of death, which occurs when the moving average crosses for 200 days less than the moving average for 50 days. This is considered one of the most declining technical patterns on the market.

ETHEREUM also lost the main support level at $ 2,150, which was previously distinguished by the least swing in August and September 2023. This price was the neck line for the triple style at $ 4000.

In addition, the average trend index has risen to 40, indicating that the declining momentum is enhancing.

Given that the distance between the triple style and the neck at $ 2,150 is 47 %, indicating the same decline procedure that the price of ETHEREUM can be suspended to $ 1095.