TL;DR
- ETH rebounded above $2,000 after sliding into the high $1,800s, trading near $2,030 and easing downside pressure.
- The drop rolled over from $3,000, broke supports, and plunged into $1,850 to $1,900, with volume rising on the leg.
- Support sits at $1,950 to $2,000; resistance at $2,100 to $2,150 and $2,250 to $2,300; losing $2,000 risks renewed weakness.
Ethereum snapped back above $2,000 after a steep multi day selloff that pushed price into the high $1,800s and drew aggressive dip buying. The rebound frames $2,000 as the line between stabilization and renewed weakness. At the time of the update, ETH traded near $2,030, more than $100 above the local low, easing immediate downside pressure. Buyers stepped in once price stabilized below prior breakdown levels, but the broader structure remains damaged, so conviction is still tentative. Confirmation depends on holding $2,000 through volatility after sellers appeared exhausted for now.
Selloff accelerated into early February
On the 1 hour chart, Ethereum shifted from consolidation into a sharp downside expansion, rolling over from the $3,000 area and breaking successive supports. The decline was fast and directional, signaling strong selling rather than a gradual correction. The move lower showed limited pauses, pointing to pressure rather than churn, before a near vertical drop into the $1,850 to $1,900 zone in a short window. Volume increased notably during the final leg down and coincided with the local bottom that sparked the rebound back above $2,000.
After bouncing from the lows, ETH reclaimed $2,000, a round number that stands out as a key psychological pivot for the next sessions. Reclaiming $2,000 suggests short term acceptance, but it does not confirm a trend reversal. Price remains well below the broader breakdown area, meaning the move reads as a reaction unless additional structure is recovered overhead. Visible levels place immediate support at $1,950 to $2,000, with near term resistance at $2,100 to $2,150 for buyers to reclaim. A clean hold keeps momentum building for clearer stabilization signals.
Beyond that, a higher resistance band sits at $2,250 to $2,300, reflecting a prior consolidation zone before the selloff. Momentum has shifted short term, yet stabilization requires acceptance above $2,100 to $2,150 and follow through. Holding above $2,000 keeps the rebound intact, while a failure back below would suggest the move was short covering and reopen downside risk. In that case, traders would refocus on $1,950 to $2,000 support and the $1,850 to $1,900 demand zone that recently stopped the slide. Until then, caution rules still.
