Ethereum TVL nearing 3-year high — Can ETH price surge?
Ethereum’s NUPL signals rising fear — How $3K can flip sentiment
On February 1, Ethereum (ETH) experienced a sharp rejection at its descending trendline, leading to a 13.87% decline that pushed the price below the key psychological level of $3,000. The downturn continued last week with an additional 9% drop. However, there is a glimmer of hope: ETH has recovered by nearly 3%, and it is currently trading around $2,690.
Signs of a Potential Recovery
Investors are closely watching the daily RSI (Relative Strength Index), which has bounced from oversold levels to 38. Although this is still below the neutral 50-mark, a move above 50 could signal a shift toward bullish momentum.
A sustained recovery might enable ETH to retest the $3,000 resistance level. On the downside, if Ethereum closes below $2,359, further declines could extend toward the next support level at $1,905.
Read Ethereum Price Prediction 2031, 2032, 2033, 2040, 2050 for more insights
Ethereum’s DeFi Dominance and Network Strength
Ethereum’s network fundamentals remain robust. The Total Value Locked (TVL) in the network reached 21.8 million ETH on February 11, marking the highest level since October 2022.
This represents an 11% monthly increase and reinforces Ethereum’s dominant role in decentralized finance (DeFi), holding a 52.8% market share. In contrast, BNB Chain experienced a 3% drop in smart contract deposits, further highlighting Ethereum’s strength.
Info Box:
Key Data Points:
Decline on Feb 1: 13.87% drop, below $3,000
Recent Recovery: +3%, current price ~$2,690
TVL: 21.8 million ETH, +11% monthly increase
DeFi Market Share: 52.8%
Also Read: AIOZ Network Price Prediction 2025 - 2030
Long-Term Price Outlook: 2025 & Beyond
Looking ahead, Ethereum’s prospects remain promising, driven by growing DeFi adoption and ongoing network upgrades. Analysts suggest that ETH could reclaim its all-time highs by 2025, with potential targets above $5,000. Furthermore, by 2030, with increasing institutional interest and further technological advancements, Ethereum might even exceed the $10,000 mark.