#Ethereum (ETH) Price News & Insights Today 1-2-2026 - Technical analysis of #ETH, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
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As of February 1, 2026, Ethereum (ETH) is experiencing a sharp market decline, dropping 9.70% within the last 24 hours to trade at approximately $2,299.41. The broader cryptocurrency market is also under significant pressure, with Bitcoin falling toward $78,000.
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Key Market Insights
-Market Crash: ETH has lost approximately 20% of its value over the past week. High volatility has led to massive liquidations, with Ethereum accounting for nearly half of the total market liquidations at $1.14 billion.
-Institutional Impact: Major institutional holder BitMine reportedly added over 40,000 ETH recently but is now facing over $6 billion in unrealized losses as the price continues to slide.
-Critical Support Levels: Technical analysts identify the next major support zone near $2,120 if the price fails to hold above the recent consolidation levels. To regain bullish momentum, ETH must first reclaim the $3,000 psychological barrier.
-Diversification Views: Despite the dip, ARK Invest CEO Cathie Wood suggested today that Ethereum remains a viable diversification option alongside Bitcoin and Solana, noting its low correlation with traditional assets like gold.
Network & Ecosystem Updates
-2026 Upgrade Roadmap: Developers are preparing for the Glamsterdam upgrade in early 2026, followed by Hegota later in the year. These updates aim to address "state bloat" and improve long-term sustainability through Verkle Tree integration.
-Layer 2 Expansion: The high-speed Layer 2 network MegaETH has officially scheduled its mainnet launch for February 9, 2026, following successful global stress tests.
-Security Focus: The Ethereum Foundation is prioritizing defenses against quantum computing threats, implementing new security protocols like PQ (Post-Quantum) signatures.
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