#Ethereum (ETH) Price News & Insights Today 8-2-2026 - 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 8, 2026, Ethereum (ETH) is trading at approximately $2,128.70, reflecting a 24-hour recovery of +1.76% following a highly volatile week where prices dipped as low as $1,748. Despite this minor rebound, the asset remains in a short-term bearish trend, having lost roughly 13.4% over the first week of February.
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Ethereum Insights
-Whale Accumulation: Large holders (whales) have been actively buying the dip, increasing their holdings by nearly 4 million ETH throughout January and into early February.
-Network Activity: The network hit a new historical record yesterday, February 7, with transaction counts reaching 2,896,853, signaling high on-chain engagement despite price weakness.
-Technical Outlook: Analysts identify $2,120–$2,125 as immediate resistance. A sustained recovery requires reclaiming the psychological $3,000 mark, while critical support rests at $1,700–$1,800.
-Institutional Sentiment: Sentiment remains cautious as Fidelity’s Ethereum ETF recorded significant outflows of $55.8 million this week, indicating a "risk-off" approach from institutional investors.
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