📊 Technical Analysis (ETH/USDT)
Trend: The short-term trend is bearish, with the price currently trading below key exponential moving averages (EMAs) including the 7, 21, 50, 100, and 200-period marks on the 2H timeframe.
Chart Patterns: Analysts have identified a wide and volatile descending wedge on the two-day timeframe. While this often signals a potential reversal, the current structure remains bearish until a high-volume reclaim of the $2,802 resistance occurs.
Support & Resistance:
Immediate Support: $1,906 – $1,899.
Major Support (Golden Buying Zone): $1,792 – $1,740.
Immediate Resistance: $1,951 – $1,957.
Crucial Resistance: $2,802.
🐋 Whale Activity & Order Book
Massive Accumulation: Despite falling prices, whales holding 10,000 to 100,000 ETH have been active, adding roughly 4 million ETH to their balances recently.
Specific Plays: Entities like Bitmine Immersion Technologies have been aggressively buying the dip below $2,000, recently staking over 140,400 ETH.
Sell Pressure: Conversely, "mega-whales" offloaded over 1.1 million ETH ($2.8 billion) in late January, which created a supply imbalance that buyers are still struggling to absorb.
Order Book "Magnets": Liquidation zones are clustered around $1,944–$1,957 (above) and $1,906–$1,899 (below), acting as price magnets in this high-tension environment.
🌍 Fundamental News Impact
Institutional Fragmenting: Spot Ethereum ETFs have seen "two-sided" sentiment; while some funds like Fidelity’s FETH saw late-month inflows, others experienced withdrawals exceeding 70,000 ETH recently.
Macro Outlook: The Fear & Greed Index is in "Extreme Fear" territory (level 9), suggesting a short-term bearish outlook but long-term conviction for patient investors.
2026 Projections: Major institutions remain bullish for the long term, with JPMorgan forecasting $10,000 based on L2 fee slashes and Standard Chartered targeting $12,000 due to pension fund inflows.
