On February 11, Ethereum (ETH) hit $2,720 and has seen a 4% growth in the past three days. Despite the price surge, low transaction volumes may indicate weakness in the rally. Recent staking data shows a temporary nature of this growth. Withdrawals of over 200,000 ETH from staking in the last week, totaling $540 million, may increase market supply and have bearish implications for Ethereum price. A 3.7% rally in Ethereum could be temporary rather than the start of a sustained uptrend. Decreased buying volume and a bearish market structure raise further price decline risks. Breaking the $2,660 support could lead Ethereum to $2,400, where the lower Bollinger Band will provide support. Conversely, surpassing $2,725 could pave the way for Ethereum to reach the $2,972 resistance level.
