Ethereum continues to trade below the critical $2,000 level, reflecting 
persistent market pressure as traders await a clearer directional catalyst. 
The inability to reclaim this psychological threshold has kept sentiment 
cautious, with volatility elevated and liquidity conditions still uncertain. 
While price action has stabilized somewhat after recent declines, the broader 
structure suggests the market is preparing for a decisive move that could 
define Ethereum’s short-term trajectory. Related Reading: Bitcoin Realized 
Losses Hit Luna Crash Levels — But Price Context Points To A Different Market 
Phase A recent CryptoQuant report provides important context, indicating that 
the Ethereum market has undergone one of its most prolonged periods of stress 
since mid-2021. According to the data, the 7-day simple moving average of long 
liquidations on Binance climbed to roughly 9,000 ETH on February 6, 2026. 
Because this figure represents a smoothed weekly average rather than a single- 
day spike, it signals sustained pressure rather than a brief liquidation 
cascade. This pattern implies that leveraged long positions have been unwound 
gradually over several days. Pointing to persistent deleveraging rather than a 
sudden capitulation event. Historically, extended liquidation phases can reset 
market leverage and reduce speculative excess, though they also tend to 
coincide with fragile sentiment. Whether this process ultimately stabilizes 
Ethereum or leads to further downside remains dependent on liquidity 
conditions and broader market demand. Sustained Liquidations Signal 
Derivatives Market Reset The CryptoQuant report further notes that Ethereum’s 
decline from the $3,000 region to the $2,000 range did not trigger any 
capitulation events. Instead, the market experienced a prolonged sequence of 
margin calls, with leveraged long positions gradually unwound over several 
consecutive days. This pattern reflects persistent stress in the derivatives 
market rather than a short-lived liquidation cascade. Indicating that traders 
faced sustained pressure as the price trended lower. From a historical 
standpoint, the intensity and duration of this liquidation phase appear to 
exceed those recorded during major capitulation periods of the 2022 bear 
market. Such extended liquidation activity typically signals a broad 
deleveraging cycle, where excessive speculative positioning is systematically 
cleared. This process often reshapes market structure by reducing leverage- 
driven volatility and restoring a more balanced risk environment. The 
implication is that Ethereum may have already undergone a significant leverage 
reset in recent weeks. Persistently elevated liquidation averages can 
sometimes precede seller exhaustion. Weaker market participants exit 
positions, and forced selling pressure gradually subsides. The durability of 
any recovery will likely depend on renewed spot demand and macro liquidity 
conditions. Also, investor confidence must return following this extended 
period of derivatives-driven stress. Related Reading: Long-Term Ethereum 
Holders Expand Positions While Market Faces Pressure: Rare Signal Emerges 
Ethereum Tests Long-Term Support: Weekly Structure Weakens Ethereum’s weekly 
chart shows increasing structural pressure after the loss of the $2,000 level, 
a threshold that previously acted as both psychological support and a key 
technical pivot. The recent breakdown places ETH below major trend-defining 
moving averages, suggesting weakening bullish momentum and a shift toward a 
more defensive market environment. Price action reflects a clear rejection 
from the $3,000 region earlier in the cycle. Followed by a sequence of lower 
highs that typically characterizes transitional or corrective phases. The 
latest decline also coincides with rising trading volume, often associated 
with distribution or leveraged position unwinding rather than organic 
accumulation. This dynamic reinforces the perception of ongoing market stress 
rather than stabilization. Related Reading: Bitcoin Drop Wipes Billions From 
Recent Buyers: New Whale Cost Basis Falls Toward $90K From a structural 
standpoint, the next meaningful support area appears around the mid-$1,500 to 
$1,700 zone, where previous consolidation and demand emerged in earlier 
phases. Holding above this range would help preserve the broader long-term 
bullish framework, even amid current weakness. A sustained break below it, 
however, could shift sentiment toward a deeper corrective cycle. Ethereum 
remains sensitive to macro liquidity conditions, derivatives positioning, and 
overall crypto market sentiment, with recovery dependent on renewed spot 
demand and stabilization above key technical levels. Featured image from 
ChatGPT, chart from TradingView.com

Ethereum Endures Historic Liquidation Week: Largest Sustained Liquidation Phase Since 2021

XRP could plunge to $0.85 as intensifying downside pressure and broader crypto 
weakness threaten to drag the token below $1, signaling a deeper correction 
before any meaningful rebound resumes, according to a crypto analyst. Analyst 
Warns of Sub-$1 XRP Dip With $0.85 Breakdown Risk Rising XRP could fall below 
the $1 level as downside pressure […]

XRP Could Fall to $0.85 as Sub-$1 Breakdown Threat Looms, Analyst Warns

Bitcoin has seen record realized losses in one of the cryptocurrency’s 
largest-ever capitulation events as short-term holders sold at steep losses 
amid its decline.

Bitcoin loses $2.3B in biggest crash since 2021 as capitulation continues: Analyst

Ethereum price started a fresh decline and traded below $1,980. ETH is now 
consolidating and remain at risk of another decline below $1,920. Ethereum 
struggled to extend gains above $2,000 and corrected lower. The price is 
trading below $1,980 and the 100-hourly Simple Moving Average. There is a 
bearish trend line forming with resistance at $1,960 on the hourly chart of 
ETH/USD (data feed via Kraken). The pair could start a fresh decline if it 
stays below the $2,000 zone. Ethereum Price Remains In The Red Ethereum price 
failed to stay above $2,000 and started a fresh decline, like Bitcoin. ETH 
price traded below the $1,980 and $1,960 levels to enter a bearish zone. The 
pair dipped below the 50% Fib retracement level of the upward move from the 
$1,745 swing low to the $2,168 high. The bears even pushed the price toward 
the $1,900 support. Besides, there is a bearish trend line forming with 
resistance at $1,960 on the hourly chart of ETH/USD. Ethereum price is now 
trading below $1,980 and the 100-hourly Simple Moving Average. If the bulls 
remain in action above $1,920, the price could attempt another increase. 
Immediate resistance is seen near the $1,960 level and the trend line. The 
first key resistance is near the $2,000 level. The next major resistance is 
near the $2,050 level. A clear move above the $2,050 resistance might send the 
price toward the $2,150 resistance. An upside break above the $2,150 region 
might call for more gains in the coming days. In the stated case, Ether could 
rise toward the $2,250 resistance zone or even $2,280 in the near term. 
Downside Extension In ETH? If Ethereum fails to clear the $1,960 resistance, 
it could start a fresh decline. Initial support on the downside is near the 
$1,920 level. The first major support sits near the $1,900 zone or the 61.8% 
Fib retracement level of the upward move from the $1,745 swing low to the 
$2,168 high. A clear move below the $1,900 support might push the price toward 
the $1,845 support. Any more losses might send the price toward the $1,800 
region. The main support could be $1,750. Technical Indicators Hourly MACD – 
The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The 
RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,900 Major 
Resistance Level – $2,000

Ethereum Price Rejected Again — Is Another Leg Lower Brewing?

Al Green is running against Christian Menefee in the Democratic Party primary 
elections next month, with Texas one of the first states to hold the vote on 
March 3.

Cryptocurrency price in SEK