$ETH February 8, 2026, Ethereum is showing a tentative recovery after a brutal start to the month that saw prices crash below the $2,000 psychological barrier. On the daily candle chart, the price is currently stabilizing around $2,125, attempting to form a "bullish engulfing" pattern to reverse last week’s massive liquidation cascade. Technical indicators like the RSI show ETH is emerging from oversold territory,but declining trading volume on this bounce suggests buyers are still hesitant. Key resistance sits at the $2,200 level; a daily close above this would confirm a short-term trend reversal and potentially target the $2,350 zone. Conversely, failure to hold the $1,850 – $2,000 support zone could lead to a deeper capitulation toward the 2025 macro lows.

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