On February 5th, Ethereum [ETH] achieved the remarkable feat of making $466.4 million vanish into thin air, like a particularly aggressive black hole with a taste for long positions. The price plummeted 14.96% from $2,148 to $1,826, proving that gravity exists even in the crypto cosmos.
The Fear and Greed Index, that most cryptic of cosmic divination tools, plummeted to 11-a number so low it could only be described as “mathematically terrified.” AMBCrypto helpfully noted that sub-20 readings are the crypto equivalent of a toddler’s first sleepover: panic, chaos, and a desperate need for emotional support in the form of Bitcoin.
Meanwhile, the ETH/BTC ratio hit a 3-year low, a reminder that even altcoins have egos-and Ethereum’s was currently being stomped into the ground by Bitcoin’s well-polished toe. The $2k level, once a psychological fortress, now lay in ruins, like a castle made of sand and wishful thinking.
Plotting the ETH Path: A Journey Through the Looking-Glass (of Doom)
The daily chart told a story of bearish triumph. Last year, ETH briefly flirted with $2,500 like a love interest who forgot to show up. In November, it tried again, only to be rebuffed. This time, the bulls had the social grace of a sardine at a party-no one wanted them, and they were squished into the bargain bin of existence.
The price bulldozed through $2.5k and $2.1k like a rogue asteroid with a vendetta. The RSI, now at 18.68, was so oversold it could have been mistaken for a clearance rack at a discount store. The OBV? It had made a new low so profound it could only be described as “existential.”
Can These Zones Save ETH? Probably Not, But Here’s a Map Anyway
The liquidation heatmap revealed a wasteland of shattered dreams. The $2k zone had been obliterated, like a buffet during a zombie apocalypse. Further south, $1,500 loomed like a cosmic joke waiting to happen. Meanwhile, the $2,400 and $2,700 zones were now just theoretical targets-like hoping a meteor shower will bring your ex back.
Why Traders Should Sell the Bounce (Because Hope Is a Trap)
The lack of a demand zone reaction at $2.4k was a bearish masterclass. If Ethereum tried to bounce, traders would need to brace for a “sell the news” moment so brutal it would make a medieval executioner blush. The $2.1k and $2.4k levels? They’ll likely be revisited soon-like a bad date you keep hoping will turn into a rom-com.
Final Thoughts
- Ethereum sprinted past key demand zones like a caffeinated ostrich fleeing a desert storm.
- A $2.4k bounce is possible, but don’t bet your last Bitcoin on it-unless you enjoy cosmic irony.
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2026-02-07 00:33