ETH staged a technical rebound above $2,000 this week, bolstered by a sharp intraday price jump and elevated volume. On-chain signals — including sizable whale buys and rising derivatives interest — point to institutional accumulation even as ETH trades in a defined range. Key levels to monitor: $2,000 support, $2,300–$2,400 resistance, and downside risk toward $1,900 if the floor fails.

A week of conflicting flows pushed Ethereum into a volatile tug-of-war: sizable ETF redemptions and BlackRock's Coinbase deposit coincided with a $55M short-liquidation rally that briefly pushed ETH above $2,000. This article breaks down the concrete events, price and volume behavior, technical levels to watch, and a practical trading checklist.

Last week ETH saw short-lived rallies driven by political sentiment while spot-ETF redemptions continued to depress volumes. Institutional accumulation by a major buyer contrasted with weakening DEX activity and lower active-user counts, setting up a cautious near-term outlook for traders.

A $500M whale sell-off and ongoing spot-ETF outflows pressured ETH into a tight $1,900–$2,100 range this week. On-chain accumulation by large holders contrasts with episodic selling, leaving ETH vulnerable to liquidation cascades near key levels while a decisive break above $2,150–$2,200 would open the path to $2,300–$2,500.

A rapid sell-off pushed Ether down ~34.5% to an intraday $1,850 low amid heavy futures liquidations and notable spot ETF redemptions; on-chain activity and network fees spiked as traders rushed to unwind positions.

Ethereum plunged sharply in early February 2026 after concentrated futures liquidations and notable ETF redemptions. Over the past week ETH suffered roughly $1–1.15 billion in forced liquidations (with $961M on Feb 1 and another major day on Feb 3), plus $308M in ETF outflows and 600k+ ETH moved to exchanges. The sell-off broke key support zones near $2,550–$2,600 and pushed price below $2,200, increasing short-term downside risk while highlighting critical support and resistance levels traders should watch.