ETH is hovering at a weak level, with selling pressure dominating this weekend

RektHunter · 2026-02-05T10:05:17+00:00

Ethereum (ETH) remains weak with a 5.78% decline, priced at $2,127. It struggles within a limited range, with key support levels at 2765, and resistance at 2864. MACD signals bearish momentum, urging caution for traders.

RektHunter

2026-02-05 10:05:17

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Ether (ETH) continues to hover in the weak zone with strong selling momentum at the end of the week. The latest data shows ETH price at $2,127, down 5.78% in the last 24 hours, reflecting a very weak market condition. Price movement remains trapped within a limited range, unable to make a significant breakout to higher levels.

Price Continues to Hover Without a Breakout

On the weekly chart, ETH is trading around the 2800 level as an initial target, but market performance shows ongoing weakness. On the daily chart, a critical level is at 2770 where price action has yet to break through convincingly. If the price touches this level again and then rebounds, traders may consider opening small positions with tight risk management. Conversely, if a breakdown below 2770 occurs, bearish signals will strengthen and long positions should be entered very cautiously.

Support and Resistance Levels for Trading Strategies

Technical level mapping for this period includes several key areas:

Support:

First support: 2765
Second support: 2737
Third support: 2718

Resistance:

First resistance: 2864
Second resistance: 2890
Third resistance: 2910

Traders can use these levels as references for entry, stop loss, and take profit in short-term trading strategies.

MACD Signal and Momentum: When Will the Trend Change?

Analysis on the 2-day timeframe shows MACD has experienced a bearish crossover with momentum continuing to decline. The second and third bars in the downtrend phase indicate sellers still dominate. This means traders should be very cautious when opening long positions until a clear trend reversal is confirmed.

Monitor closely whether MACD will form a bullish divergence or remain under bearish pressure. The still-negative momentum is a caution signal for now, especially on larger timeframes.

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