$ETH Ethereum has entered a sharp bearish phase in early 2026, dropping approximately 34% from its January highs. After breaking below the $2,150 support level, the price plummeted to a local low near $1,850 on February 6. Currently, ETH is trading in a tight consolidation range between $1,900 and $2,050, characterized by high-volume liquidations and cautious institutional flow.
2. Key Levels to Watch
Support: The $1,850 – $1,900 zone is acting as the primary defense line for bulls. A break below this level could open the door to a deeper sell-off toward the $1,745 swing low or even the $1,580 historical support.
Resistance: Immediate resistance sits at $2,050, followed by a much stronger hurdle at $2,150. $ETH must reclaim and hold the $2,150 level to invalidate the current "sell-on-rally" sentiment.
