Pressure at the Support
$ETH is navigating a heavy bearish trend as we move into February 2026. After a significant drop from the $3,368 highs, $ETH is currently hovering around the $2,275 mark.
Technical Breakdown:
* Trend: The price is trading well below all major moving averages, with the EMA(99) sitting far above at $2,721, confirming a strong medium-term downtrend.
* Recent Action: We've seen a sharp descent followed by a "sideways" consolidation near the local bottom of $2,110.
* Momentum: The 24h change is down -2.16%, and the 7-day performance shows a significant -23.58% decline.
Key Levels:
* Immediate Resistance: Reclaiming the EMA(7) at $2,277 is the first step for a relief bounce.
* Support: The $2,110 level is the line in the sand; a break below this could lead to a test of psychological support at $2,000.
Market sentiment remains cautious. Without a clear catalyst to reclaim the $2,400 zone, the path of least resistance remains downward. ⚖️
