Ethereum price has reversed below $2,000, with bears in control. ETH is consolidating but faces risk of further decline below $1,940.
ETH failed to sustain above $2,050 and corrected lower, mirroring Bitcoin's move. It broke below $2,040, $2,020, and a bullish trendline support at $2,035 on the hourly ETH/USD chart . The price also dipped under the 50% Fibonacci retracement of the rally from $1,895 low to $2,106 high, reaching near $1,950.
Currently, ETH trades below $1,980 and the 100-hourly SMA. Bulls may defend $1,920 to enable a rebound.
**Upside scenario**: Resistance at $1,980, then $2,000. A break above $2,025 could target $2,045, with potential extension to $2,120 or $2,150.
**Downside scenario**: Failure to reclaim $2,000 risks renewed selling. Key supports lie at $1,945, $1,930 (near 83.2% Fib), $1,880, and $1,820. Deeper losses could test $1,780.
**Technical indicators**:
- Hourly MACD: Bearish momentum building.
- Hourly RSI: Below 50, indicating weakness.
Major support: $1,930
Major resistance: $2,000
(Note: As of February 16, 2026, real-time ETH price hovers around $1,950–$1,980, aligning with the described bearish pressure and recent drop from above $2,000.)#ETH $ETH
