On February 3, 2026 (GMT-5), Ethereum (ETH) traded in a bearish context with muted rebound momentum, recovering slightly from an intraday low of $2,163 to hover around $2,348.28, with a marginal 0.01% 24-hour gain and a $19.28 price increase, accompanied by a 24-hour trading volume notched in line with recent sluggish market activity, a market cap of approximately $277.25 billion, and a circulating supply of 120.69 million ETH. Technically, ETH remained in a clear bearish structure characterized by lower highs and lower lows, trading below both the 50-day SMA ($3,016.54) and 200-day SMA ($3,445.51); the 14-period RSI stood at 22.47, deep in oversold territory, yet lacked clear signs of a bullish reversal, while the MACD maintained a bearish trajectory. The asset found tentative support in the $2,150-$2,200 zone, with immediate resistance concentrated near $2,300-$2,350 and strong resistance at $2,470. Market sentiment remained in extreme fear (Fear & Greed Index at 14) amid continued outflows of $2.53 billion from U.S. spot Ethereum ETFs, lingering panic from recent mass liquidations (420,000 traders liquidated earlier in the week), and weak retail buying interest. Short-term direction hinges on ETH’s ability to hold key support— a breakdown below $2,150 could trigger a drop toward the $2,000 psychological level—while a sustained break above $2,350 may alleviate near-term bearish pressure, with analysts projecting a potential rebound to $2,636.82 in the near term and a year-end target of $2,935.34.

The market outlook for tomorrow is bearish, with a target price of 2284.04.

This content is for informational/entertainment purposes only—a friendly market recap, not investment advice or a “green light” to trade crypto. Crypto markets are volatile (a wild ride!), so trade wisely, manage risk, and act at your own peril: all profits/losses are yours, and you bear full responsibility. May the crypto odds be with you, but caveat emptor (kind of)!