Ethereum (ETH) experienced a volatile week, with prices dropping to a low of $2,065 due to trade war tensions before rebounding. The cryptocurrency opened the week at $3,200-$3,400 but fell to the aforementioned low on February 3. However, prices recovered to $2,780 on February 4, driven by institutional accumulation and high ETF volumes. Despite the recovery, ETH remains 10% below its January close. On February 3, $1 billion in ether left exchanges, indicating institutional accumulation. Immediate resistance for ETH is at $2,850, while support lies at $2,350-$2,400. A sustained drop below $2,300 could invalidate the bullish thesis. Technical indicators suggest potential upside toward $3,500. Mixed signals exist, with optimism reflected in exchange outflows and ETF activity, but trade war escalations and regulatory uncertainty pose risks. Derivatives markets show bearish positioning, but March's Pectra upgrade and potential Ethereum ETF approvals could reignite bullish momentum. Ethereum's sensitivity to macro risks and institutional dynamics is highlighted, but long-term fundamentals provide optimism. Traders are awaiting clarity on the U.S.-China tariff effect and technical breakouts to determine ETH's next move.



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