Analyzing the current $ETH market structure in February 2026, reveals a complex setup that could favor a bullish reversal if certain technical conditions are met.
The immediate price action is testing the 1,936 support level. If Ethereum maintains this floor, it could invalidate the immediate bearish trend. A key signal for a potential rise is the formation of an Adam and Eve double bottom pattern on the lower timeframes. This specific double bottom behavior is characterized by a sharp initial dip followed by a more rounded secondary accumulation phase.
Confirmation for this recovery requires a sustained breakout above the 2,150 neckline. If the price reclaims this level, it would shift the current market bias from distribution to accumulation. Additionally, the recent decline has pushed the asset toward oversold territory on several momentum indicators.
A sharp reduction in exchange inflows coupled with a daily close above the 2,205 resistance would provide the necessary volume confirmation for a trend shift. If this structural reclaim occurs, the next logical technical target for the upside sits near the 2,500 psychological barrier. Traders are currently monitoring for a higher low to confirm that the local bottom is in.
Continued consolidation above the 1,866 lifeline remains critical to keeping any bullish thesis alive. Failure to hold these levels would likely result in further testing of lower cyclical floors, but a successful bounce from here would align with historical February recovery patterns seen in previous years.
