#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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As of February 5, 2026, Ethereum (ETH) is facing severe downward pressure, plunging below the critical $2,000 psychological support level to reach its lowest price since May 2025. The price is currently trading between $1,927 and $2,082, representing a roughly 7-10% decline over the last 24 hours.
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Ethereum Insights
-Mass Liquidations: A broader crypto market crash has triggered over $355 million in leveraged liquidations within a single hour today, with total market-wide liquidations reaching $775 million.
-Institutional Stress: Major corporate holder BitMine is currently facing over $6 billion to $8 billion in unrealized losses on its 4.29 million ETH stash. Despite the "underwater" position, Chairman Tom Lee has characterized these losses as a "strategic feature" of their long-term cycle-based treasury strategy.
-Technical Breakdown: ETH has decisively broken below its June 2024 support of $2,100. Technical indicators like the RSI are at their most oversold levels in 300 days, suggesting potential selling exhaustion but not yet a confirmed reversal.
-On-Chain Activity: While price action is bearish, network activity has hit peak levels in recent days. Additionally, large "whales" (holding 10,000+ ETH) have reportedly been increasing exposure, even as mid-sized holders capitulate.
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