$ETH
The ETH Market Breakdown
Current Status: Ethereum is currently trading at $2,956, showing a slight recovery but remaining under the critical $3,000 psychological barrier. The structure is currently "coiling," indicating a big move is coming.
Key Technical Zones:
Support 1 (Immediate): $2,850 — This is the primary liquidity zone. If ETH falls below this, we could see a quick drop to $2,400.
Resistance 1 (The Wall): $3,050 — ETH has repeatedly struggled to close above this level. A break here confirms a local bottom is in.
Major Supply Zone: $3,300 - $3,450 — Reclaiming this area is essential to flip the trend from bearish to bullish for the month of February.
Sentiment: Cautious. While Bitcoin dominance remains high, Ethereum whales have been seen accumulating near the $2,900 level.