LayerZero

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

The relief rallies in Bitcoin and several major altcoins are stalling near their respective overhead resistance levels, signaling that the bears remain in control.

Demand from Bitcoin accumulation addresses reached a new high, with analysts citing a futures market CME gap as a prediction point for their higher short-term price targets.

Bitcoin round-tripped gains after a spike to $70,000 as liquidity traps began to characterize BTC price action on the US bank holiday.

Bitcoin market analysis focused on liquidations and the wick to $59,000 for signs of the next significant BTC price move on lower time frames.

Ether holds $2,000, but may remain under pressure as traders watch corporate earnings, US government debt and growing global tensions.

Traders say Ether’s declining open interest and futures funding rates could form the groundwork for a significant short squeeze on bearish leveraged positions and a rally to $2,500.

Bitcoin and several major altcoins are attempting a relief rally, signaling that the bulls are trying to form a higher low.