Overview
- ETH slipped to about $2,073 before a tentative bounce, with near-term hurdles flagged around $2,200–$2,250 and a potential slide toward $2,000 if recovery efforts fail.
- Analysts highlight the $2,000–$2,150 band as a high‑stakes liquidity zone where a breakdown could accelerate selling, while a steady hold keeps the door open to a $2,400–$2,700 range build.
- Short‑term charts show higher lows and tactical setups that target roughly $2,550–$2,750 if $2,150 holds, though daily trend signals remain bearish to neutral below key moving averages.
- On‑chain activity has reached records, with about 3.4 million addresses interacting with smart contracts even as price trades far below prior peaks.
- Glassnode data shows 30‑day long‑term accumulation falling from roughly +338,708 ETH on Jan. 18 to about +40,953 ETH on Feb. 2, as recent deleveraging wiped out over $312 million in positions and Bitcoinist reports BitMine added 20,000 ETH.