TL;DR
- ETH hit $2,156 on Feb. 2 after a late-session selloff across majors, then closed near $2,329, putting $2,000-$2,200 support back as the primary trigger.
- TradingView flags resistance at $2,843 with higher bands up to $4,830; MACD stayed negative with readings near -81, -90 and -172.
- CryptoQuant CVD shows taker-sell dominance; exchange metrics show negative buying power ratios and withdrawal-to-deposit ratios of 1.74x, 3.28x and 3.58x as liquidity thinned into February.
ETH sold off late on Feb. 2, 2026, tagging a daily low near $2,156 on Bitstamp before bouncing and closing around $2,329. The slide put the $2,000 handle back on trading desks’ dashboards, with participants treating $2,000 to $2,200 as the next directional trigger. The immediate focus is whether onchain signals can absorb spot selling pressure long enough to defend support. On the chart, price struggled to reclaim broken levels, keeping the tape defensive into early February. That bounce did little to cool the debate as price hovered above $2,000 and liquidity stayed cautious.
ETH Signals at $2,000 Support
Within that band, crypto trader Ted Pillows called $2,000 to $2,200 a must-hold structure and warned a break could reopen downside toward April 2025 lows. TradingView’s daily map showed a reference near $2,229, with first resistance clustered around $2,843, then $3,223, $3,529, $3,836, $4,216 and $4,830. As long as ETH remains below $2,843, rallies risk being treated as corrective rather than trend-changing. Price pierced the lower reference before recovering slightly, reinforcing how reactive this support area has become for short-term positioning. Momentum stays heavy: MACD remained negative, with readings near -81, -90 and -172.
Order flow data points to sellers staying aggressive. CryptoQuant’s 90-day spot taker cumulative volume delta remained in taker-sell dominance, with red phases expanding as price rolled into February, suggesting traders hit market bids instead of waiting for limit fills. When taker selling dominates, volatility tends to spike and rebounds can stall before they regain structure. Fundstrat’s Tom Lee, via comments shared by CryptosRus, argued enough time has passed since the prior cycle peak and levels look like bottoms. He also cited parabolic active-address growth, though without figures. The mismatch left traders cautious about timing.
Exchange flow signals paint a similarly cautious picture. CryptoQuant’s exchange withdrawing addresses stayed elevated through 2024 and 2025, a pattern tied to coins moving off venues during stress and trimming near-term sell-side inventory. Analyst Crazzyblockk said Bitcoin traded near $78,162 after a 13.2% 30-day drop, while seven-day buying power ratios were negative: -0.35 on Binance, -0.07 on Coinbase and -0.10 on OKX. Withdrawal-to-deposit ratios were 1.74x, 3.28x and 3.58x. Direction hinges on the $2,000 zone. For ETH, the market needs a CVD turn and improving MACD, or rallies may meet supply near former support.
