ETH (Daily Level) Technical Analysis | 2026.02.03

From the daily structure perspective, Ethereum has entered a high-level convergence—breakdown process after peaking around 4800 USD. The chart clearly shows a long-term ascending triangle/converging wedge structure. Currently, the price has broken down the lower trend line and quickly retreated to the 2300 USD level, indicating that the medium-term trend has shifted from strong to weak, and the structure has changed.

Currently, the 2300 USD corresponds to an important fluctuation center for 2023–2024, and it is also a densely traded area, providing technical support in the short term. However, it is necessary to be vigilant as the volume of this round of decline has expanded, and the rebounds are weak, indicating that this is not a simple washout, but more like a trend-level readjustment. If the price cannot quickly recover to the 2600–2700 USD range, ETH is likely to enter a longer period of fluctuating downward.

Looking downward, if 2300 USD is effectively broken, the next key support level is at the integer level of 2000 USD, and below that is 1750–1800 USD (previous low points multiple times). Looking upward, only by standing firmly above 3000 USD can it be confirmed as a false breakdown and return to the medium-term bullish structure.

Key Levels:

Support Levels: 2300 / 2000 / 1800

Resistance Levels: 2700 / 3000 / 3600

Summary in One Sentence: Ethereum has broken below the long-term convergence structure, with 2300 below being the line of life and death for bulls and bears; failing to hold will enter a medium-term adjustment cycle.