Ethereum tumbles as inverse cup-and-handle breakdown points to sub-$2K targets

first published 2026-02-04T08:57:07Z

ETH slid to about $2,264 (down 2.8%), marking ~24% loss over the past week and ~28% over the month. Spot 24h volume rose to $47.25B and futures to $105B while open interest fell slightly, indicating trimmed exposure. The 14-day MA of on-chain transfer count spiked to ~1.17M — a pattern seen before prior sharp drops. Technicals show a daily downtrend with lower highs/lows, price below the lower Bollinger Band, RSI in the low 30s; key support at $2,150–$2,200 and resistance at $2,300 and $2,700–$2,800.

AI Analysis

Price declined to ~$2,264 (−2.8%) with ~24% weekly and ~28% monthly losses; spot and futures volumes rose (24h spot $47.25B, futures $105B) while open interest fell slightly; 14-day MA of on-chain transfers spiked to ~1.17M (a pattern seen before sharp drops); technical indicators show a daily downtrend, price below lower Bollinger Band and RSI in the low 30s; support at $2,150–$2,200 and resistance at $2,300/$2,700–$2,800.

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