Ethereum at a Crossroads: Oversold Signals Battle Whale Selling Pressure
As of early February 2026, ethereum finds itself in a tense technical and psychological battleground, with its price hovering precariously around the $2,350 mark. The current market narrative is defined by a stark clash between two powerful forces: compelling oversold technical indicators and persistent, capping selling pressure from large holders, commonly referred to as 'whales.' This dynamic has created a state of hesitant equilibrium, leaving traders and analysts closely watching for the next decisive move. The primary resistance level of $2,400 has become a critical line in the sand, repeatedly rejecting Ethereum's attempts at a meaningful recovery. Each rally towards this threshold has been met with significant sell orders, strongly suggesting that whale distribution—the process of large holders offloading their positions—remains an active and dominant factor suppressing price appreciation. This consistent rejection paints a picture of strategic selling at key psychological levels, preventing bullish momentum from gaining sustainable traction. On the other side of the equation, the daily Relative Strength Index (RSI) is flashing a classic contrarian signal. The RSI has dipped into deeply oversold territory, a condition that historically indicates weakening downward momentum and often precedes a potential relief rally or trend reversal. This technical reading suggests that the force behind the recent sell-off may be exhausting itself, creating a scenario where even a modest shift in buying pressure could trigger a disproportionate upward move. However, the overarching market structure remains hesitant and fragile. The coexistence of these oversold conditions with unabated whale selling creates a complex and uncertain environment. It presents a fundamental question for market participants: will the technically oversold conditions eventually attract enough strategic buying to overwhelm the whale-led distribution, or will the persistent supply from large holders continue to deflate recovery attempts and lead to a breakdown of current support levels? The outcome of this battle will likely dictate Ethereum's short-to-medium-term price trajectory, making the $2,350-$2,400 range a critical zone for determining the next major directional move.
Ethereum Price Prediction: Oversold Signals Clash With Whale Pressure
Ethereum's price hovers NEAR $2,350, caught between oversold technical signals and persistent selling pressure from large holders. Analysts note repeated rejections at the $2,400 resistance level, suggesting whale distribution continues to cap recovery attempts.
The daily Relative Strength Index (RSI) shows deeply oversold conditions, indicating weakening downward momentum. However, the market structure remains hesitant rather than bullish, with critical support looming in the low-$2,200s.
"Supply absorption near $2,400 remains the defining characteristic," observes analyst Ted. Until Ethereum breaks this resistance, the price action favors consolidation or further downside. The $2,200 support zone emerges as a make-or-break level for bulls.
MetaMask Integrates Tokenized US Stocks and ETFs via Ondo Finance
MetaMask has expanded its functionality by enabling non-US users to trade tokenized US stocks and ETFs directly through its Ethereum wallet. The integration with Ondo Finance provides access to over 200 securities, including Apple and Tesla, bridging the gap between traditional equities and on-chain execution.
The MOVE capitalizes on growing demand for real-world asset tokenization, offering 24/5 trading without traditional brokerage accounts. MetaMask now serves as a unified interface for both crypto assets and tokenized securities, streamlining portfolio management for global users.
This development signals a broader trend of digital wallets evolving into comprehensive financial platforms. By incorporating regulated securities alongside cryptocurrencies, MetaMask strengthens its position as a gateway to decentralized finance.
Tom Lee Defends Bitmine's ETH Strategy Amid $6.6B Unrealized Loss
Bitmine (BMNR) Chairman Tom Lee dismissed concerns over the firm's $6.6 billion unrealized loss on Ethereum holdings, framing it as an intentional part of their long-term treasury strategy. The losses reflect market-wide declines rather than operational missteps.
Lee compared Bitmine's ETH accumulation to index ETFs, which similarly track underlying assets through cycles. "This is a feature, not a bug," he asserted, emphasizing the company's commitment to mirroring ETH's full price lifecycle rather than reacting to short-term volatility.
BitMine Shares Slide Amid Ethereum Treasury Losses
BitMine Immersion Technologies faces investor scrutiny after reporting $6 billion in unrealized losses tied to its Ethereum treasury strategy. The company's stock (BMNR) fell 5% to $23.83, nearing July 2025 lows, as ETH prices declined with broader crypto markets.
Chairman Tom Lee defended the strategy, comparing it to long-term index fund investing. "These unrealized losses are expected during downturns," Lee stated on X, emphasizing BitMine's design to track and outperform ETH over full market cycles.
The situation highlights the volatility risks of crypto-focused corporate treasuries, particularly when concentrated in single assets like Ethereum. Market observers note similar patterns across crypto equities during the current bear phase.
