Ethereum comeback in February? Trump-linked fund buying 'truckloads of ETH'

Ether is set to close January in the red, down roughly 3.5% month-to-date at around $3,250 on Jan. 31. It has lagged behind Bitcoin and underperformed altcoins like XRP and Solana .Nonetheless, some market watchers are sure Ether price will bounce back in February.WLFI buying ETH will boost price — AnalystsWorld Liberty Financial (WLFI), a DeFi protocol associated with President Trump and his family, has purchased 63,219 ETH worth $200 million since November, according to data resource Arkham Intelligence.Several analysts perceive Trump’s association with WLFI as bullish for the cryptocurrencies it is buying. For instance, analyst Ted Pillows suggests that ETH could easily hit $4,500 in February and establish new record highs by March as WLF buys up thousands of ETH. He further cites Ether’s bullish rejection during the DeepSeek-led global market rout, confirming strong demand in the accumulation area as shown below, which could have ETH’s price pursue a “short-term expansion” in the coming month.Additionally, analyst Lark Davis points to Ethereum’s strong historical performance in February in the past eight years. On average, ETH has gained over 17% during the month, recording nine positive returns and only one negative.If history repeats, ETH’s price can rise toward the $4,000-4,500 target in February, especially with Trump’s WLFI buying “truckloads of Ethereum” and supporting the overall upside outlook.ETH price must hold above $2,100The ETH/BTC pair has been bleeding since 2017. The same can be said about Ether’s price performance against Solana, with the widely-traded SOL/ETH pair up over 1,000% since December 2022.Analyst Axel Bitblaze blames Ethereum's struggle to reclaim 2021 highs on high gas fees, and slow transactions“Solana is onboarding retail at scale, making crypto fun again, and attracting actual liquidity,” the analyst wrote, adding: “The worst part is ETH still dominates DeFi TVL, yet price action is dead—meaning institutions aren’t buying, and retail couldn’t care less.”Ethereum's underperformance versus top rivals aligns with its extended range-bound price action.For the past four years, ETH has remained trapped in a broad consolidation zone, unable to sustain a breakout toward new highs, analyst Sergio Tesla noted. More recently, the pair has been stuck within a tighter 50-day range, mirroring a similar pattern on the larger timeframe, which previously resulted in a breakout.As a result of this fractal, Tesla says Ethereum’s higher timeframe (HTF) market structure remains bullish, with a key support/resistance (S/R) flip at $2,100 providing a strong foundation. As long as this level holds, ETH could build momentum for an eventual breakout in February and beyond.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.