Ethereum: Accumulation at Key Support Zone Signals Potential Reversal

As of early February 2026, ethereum (ETH) is exhibiting critical technical and on-chain behaviors that suggest a major inflection point may be near. After a significant correction from its August 2025 peak, the asset is now consolidating at a historically strong demand zone, with emerging signals pointing toward a potential bullish reversal. This analysis delves into the current price action, institutional accumulation patterns, and the technical confluence that could define ETH's trajectory in the coming weeks. Ether's price action has stabilized within a defined range of $2,240 to $2,390, following a substantial 56% decline from its high of $4,900 recorded in August 2025. This retracement has brought the asset to a crucial historical support region between $2,000 and $2,200—a zone that has previously acted as a springboard for major rallies. The current consolidation at these levels is not merely a pause in the downtrend but is accompanied by meaningful shifts in market dynamics. On-chain data and volume profile analysis indicate a notable reduction in selling pressure, a classic sign that panic-driven distribution is subsiding. More importantly, there are clear signals of institutional accumulation within this price band. Large-volume wallets and entities typically associated with long-term holding are increasingly active, suggesting that sophisticated investors view current levels as a high-value accumulation area. This 'smart money' activity often precedes broader market reversals. From a technical perspective, the $2,200 level has emerged as a powerful confluence zone. It represents not only a psychological round number and prior historical support but also aligns with key Fibonacci retracement levels and the lower bounds of the current trading range. The market structure has demonstrably transitioned from a phase of capitulation to one of consolidation, which is the necessary groundwork for any sustainable upward move. While the immediate price is stabilizing, the combination of these factors—strong historical support, evident institutional buying, and diminished sell-side volume—creates a compelling case for a potential rebound. The path of least resistance could shift upward if ETH manages to hold above the $2,200 support and build momentum to break through the upper boundary of its current range near $2,390. For investors and traders, this period represents a critical watch zone where the foundations for the next major trend are likely being established.

Ethereum Stabilizes Near Key Support as Accumulation Signals Potential Rebound

Ether trades between $2,240 and $2,390, retesting a historically significant demand zone between $2,000 and $2,200. The 56% decline from August 2025's $4,900 peak now shows signs of institutional accumulation, with volume profiles indicating reduced selling pressure.

Technical analysis identifies $2,200 as a confluence zone for reversal signals. Market structure has transitioned from panic selling to consolidation, setting the stage for a potential recovery toward $3,500-$3,800. Daily charts reveal heavy clustering of buy orders NEAR current levels—a pattern preceding previous macro rallies.

BitMine Doubles Down on Ethereum with $96M Purchase Amid $6B Unrealized Losses

BitMine Immersion Technologies has made its boldest crypto MOVE of the year, acquiring 41,788 ETH ($96M) in a single week despite bleeding $6B in paper losses. The mining firm now holds 3.55% of Ethereum's circulating supply—a 4.28M ETH position that defies the market's downward spiral.

While the BMNR stock feels pressure from underwater holdings, Ethereum's network tells a different story. Transaction volume and active addresses are climbing as BitMine pivots to staking—a calculated bet that yield generation may offset temporary mark-to-market pain.

Ethereum Surges: Could ETH Reach $2,761 After BitMine’s Strategic Buy?

Ethereum (ETH) is trading at $2,361.73, up 2.89%, with a 24-hour trading volume of $56.91 billion—a 17.2% surge. Despite intraday gains, ETH remains 18.2% lower over the past week, testing critical support near $2,156. Analysts suggest stabilization may be underway after a steep decline.

Crypto analyst Lennaert Snyder notes ETH, like Bitcoin, remains in a high-timeframe downtrend. "Shorting at this support level makes little sense," Snyder said. Market watchers eye $2,473 as a key resistance level; a breakout could propel ETH toward $2,761, signaling a potential trend reversal.

Two scenarios emerge: holding $2,156 could fuel a rebound, while failure risks accelerating the downtrend. The market awaits decisive action—either a bullish reversal or further capitulation.

Ethereum Technical Analysis Suggests $2,400 Target Amid Market Indecision

Ethereum trades in a tight range below $2,350 as market participants await directional confirmation. Failed attempts to breach the $2,400 resistance level reflect waning demand, with short-term indicators offering no clear signals.

The weekly chart maintains a bearish bias after ETH lost its $3,000-$3,400 support zone. A series of lower highs and lows now points toward the $2,200-$2,000 consolidation area, raising prospects of further downside.