Ethereum (ЕТХ) failed to reclaim the much-coveted $2,000 price territory in February despite closing the month with a 1.26% increase. The asset’s performance in February was mainly tied to bitcoin’s (БТК) movement as it sought to weather the bearish storm that prevailed throughout the month.
Ethereum started February on a solid note, closing the first day of the month with a 3.55% increase from its opening price of $1,566. Highs and lows characterized the next few days amid massive volatility. The bears finally took control of the scene on Feb. 9, triggering a huge 6.37% intraday loss for ETH.
Following subsequent declines, ethereum slumped to $1,461 on Feb. 13, its lowest point of the month. Two days later, the asset staged a comeback with a 7.66% intraday gain, the highest this year. This rally resulted in a 6-month high of $1,742, but the bullish trend was later snuffed out.
The battle for supremacy between the bulls and the bears ensued and prevailed until the end of February, with ethereum closing the month at $1,605 – 1.26% зголемување from its opening value.
Amid the prevalent price fluctuations throughout February, investors’ confidence remained strong, as evidenced by a cluster of massive deposits into the ETH 2.0 contract. Data from Glassnode reveals that the total value of the ETH 2.0 deposit contract hit a 9-month high of $27.3 billion worth of ETH as the Shanghai upgrade inches closer.
Source: https://crypto.news/ethereum-ends-february-failing-to-reclaim-2000/