#Ethereum (ETH) Price News & Insights Today 5-2-2026 - Technical analysis of #ETH, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
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Ethereum (ETH) is trading at approximately $2,119.49 as of February 5, 2026, down 5.82% for the day. The broader cryptocurrency market is experiencing a severe sell-off, with Ethereum hitting its lowest levels since May 2025.
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Ethereum Insights
-Mass Liquidations: A market-wide crash triggered over $775 million in leveraged long liquidations in a 24-hour period as Ethereum dropped toward the $2,000 psychological support level.
-Institutional Pressure: BitMine, the largest corporate ETH holder, is facing over $6 billion in unrealized losses on its 4.29 million ETH stash. Meanwhile, Trend Research has voluntarily sold over 112,000 ETH since early February to avoid forced liquidations on Aave positions.
-Ecosystem Critique: Ethereum co-founder Vitalik Buterin issued a warning to Layer 2 projects, urging them to "stop copying" existing EVM chains and start innovating, stating that scaling alone is no longer a sufficient reason for their existence.
-Technical Outlook: The daily RSI has hit its deepest oversold level in 300 days, historically a signal that selling momentum may be reaching exhaustion. However, analysts warn that a sustained breakdown below $2,000 could open the path toward $1,760 or even $1,500 in the short term.
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