Ethereum Price rises as a crypto summit nearby, what is next?

Etherum price has increased 6% in the last 24 hours, returning level $ 2,300 despite the weakening of decentralized finance metrics.

Toward data From Defiah Llama, in February, Etherum’s (El) The total value is locked to $ 50 billion from the top of $ 71 billion in January. In addition, decentralized exchanges decrease as capital flows in alternative ecosystems such as layer 2s and solanes (Salt). DEX circumference dropped with $ 92 billion in December to $ 82 billion in February, a decline of 11%.

On the other hand, Etherum network benefits have reduced $ 142 million in February 46 million in February, indicating the decline in demand. Upcoming Petra upgradeIt is expected to improve network functionality and fee efficiency, a short-term catalyst may be.

However, it is still unclear that these upgrades will suffice to stop the decline in definiteness. In addition, technical issues or delays can slow down the momentum and maintain an ethiene within its current range.

On the technical side, Ethers still trades below 2,846 critical resistance. Squeeze in Bands Bollinger suggests a possible break. The relative power index at 41.40 indicates a modest momentum, although the power could be confirmed by moving over 50.

Despite prices, the low trading volume proposes hesitation among customers. ETH needs strong pushing past resistance to maintaining gains or risks another return. The decisive pause above $ 2,846 can open the way to $ 2,946, until it can maintain current levels can lead to $ 2,200 support.

Meanwhile, the feeling remains mixed in front of the white house summit crypto summit 7. Marta. Recently, American President Donald Trump proposed the formation of a national crypto reserveWith Etherem, it’s among cryptocurrencies.

Although it sees it as a sign of a possible turnaround, analysts cautious that if enough regulatory explanation is not achieved, it summit It can become an event “Sales-News” and lead to extra falls.