Ethereum ($ETH ) is currently trading around $2,030–$2,050 USD (as of February 7, 2026), showing a strong rebound of about 4–6% in the last 24 hours amid broader market recovery.
Key recent movements:
$ETH dipped sharply earlier this week to lows near $1,750–$1,900 (a multi-month low), triggered by aggressive deleveraging, heavy liquidations (over $5B+ in crypto), major holder/leveraged position unwinds (e.g., Trend Research's large sales), and macro selling pressure tied to Bitcoin's drop.
It has bounced aggressively today, reclaiming $2,000+ and pushing toward $2,100+ at points, with high volume indicating dip-buying and short covering.
This follows a brutal 20–30%+ weekly decline, part of the ongoing 2026 correction from prior highs.
What's driving this?
Extreme fear (Fear & Greed Index in single digits/low teens) led to oversold conditions, sparking a relief rally.
Network fundamentals remain strong (record-high transactions/activity on Ethereum), contrasting with price weakness and providing some long-term bullish undertones.
However, negative ETF flows, whale sales to cover loans, and broader risk-off sentiment (e.g., from Bitcoin/tech correlations) keep pressure on.
Technical view (short-term):
Price is in a corrective bear phase overall, with broken supports and bearish momentum on daily/weekly charts.
Short-term charts show bullish divergence (e.g., RSI) and oversold bounce, but faces heavy resistance at $2,100–$2,300 — a break above could signal stronger reversal.
Failure here risks retesting lower supports near $1,800–$1,900 or deeper.
Overall, ETH is in a volatile recovery mode after extreme deleveraging, showing resilience with on-chain strength but still high risk in this bearish corrective phase. Trade cautiously — momentum could fade quickly.
Here are some visuals of the latest ETH price action and analysis charts:#Ethereum #WhenWillBTCRebound
