$ETH As of February 17, 2026, Ethereum (ETH) is experiencing significant bearish pressure, trading around $1,950 to $2,000 after a 6.4% drop in the last 24 hours and a steeper 40% decline over the past month, reflecting broader market volatility and risk aversion.7a5cb0 The price remains stuck near the $2,000 level, with critical support at $1,900—$1,850 potentially acting as a turning point for a rebound, while resistance looms at $2,050—$2,110, aligning with Fibonacci retracement levels and CME gaps.04ba4934e5da Despite oversold conditions on shorter timeframes suggesting possible short-term relief rallies, indicators like declining momentum, high volatility, and bearish futures sentiment point to continued downside risks if support breaks, exacerbated by slowing new address growth and holder exits.d0851b5488b0 However, positive factors include record network usage, whale accumulation of over 14 million ETH since dropping below $3,000, and staking queue builds, which could fuel recovery.74dea9a60f42 Long-term outlooks remain bullish, with analysts forecasting ETH could reach $4,000 to $7,500 by year-end, driven by DeFi expansion, tokenization, and upgrades, though macroeconomic and regulatory uncertainties temper nearer-term expectations.5becc8c170f6
Here's a recent candlestick chart for ETH illustrating the ongoing trends:
Ethereum price Analysis: Oversold Daily vs Intraday Relief
ETH
1,983.76
+1.58%