Ethereum (ETH) has failed to reclaim the psychological resistance level of $2,100 and has fallen below the $2,000 mark, deepening its short-term correction phase. Whether it can find support around the $1,800 level is expected to determine the course of any further decline.
According to cryptocurrency data platform CoinMarketCap on February 11 (local time), Ethereum is currently trading around $1,980, marking a decline of nearly 2% over the past 24 hours. After opening the session at approximately $2,020.36, selling pressure intensified, causing Ethereum to lose the psychological support level of $2,000. Trading volume has also trended downward, reflecting a cautious stance among investors. Shrinking overall market liquidity and the liquidation of large leveraged positions have further fueled the price drop.
Technical indicators suggest that Ethereum is currently facing strong selling pressure. The Relative Strength Index (RSI) has fallen to 42.3, indicating a seller-dominated market, while the Moving Average Convergence Divergence (MACD) remains in negative territory and continues to widen, leaving room for additional downside volatility. In particular, the 21-day moving average near $2,100 has acted as a strong resistance barrier, repeatedly thwarting rebound attempts and prompting short-term investors to take profits.
Market analysts agree that a stable reclaim of the $2,100 level is essential for Ethereum to halt its downtrend and secure reversal momentum. Analyst Javon Marks noted that the current price correction resembles accumulation patterns seen before previous bull runs, but warned that short-term downside risks remain. If Ethereum fails to defend the $1,875 support level, the decline could extend toward $1,740 or even $1,562, warranting caution from investors.
Macroeconomic uncertainty and capital reallocation by institutional investors are also weighing on Ethereum’s price. As Bitcoin (BTC) struggles to reclaim the $70,000 level, momentum across the broader altcoin market has weakened, and slowing inflows into spot Ethereum ETFs have further undermined market resilience. However, long-term investors view the current oversold conditions as a strategic accumulation opportunity ahead of a potential future upcycle, closely monitoring on-chain data for signs of accumulation.
Ethereum is currently undergoing a critical test phase marked by short-term supply-demand imbalances and technical resistance. Whether it can defend the $1,800 level and conclude the current downtrend is likely to be a key variable shaping the overall direction of the first quarter. Market participants are closely watching both a potential breakout above the $2,100 resistance level and the flow of institutional capital as they await a meaningful recovery in Ethereum’s liquidity.
Disclaimer: This article is provided for investment reference purposes only, and we are not responsible for any investment losses resulting from its use. The content should be interpreted for informational purposes only.
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