Ethereum fell to a low of $2,156 early Monday morning after five consecutive days of losses amid an intensified sell-off in the cryptocurrency market.
According to Alicharts, the $2,100 to $2,250 zone is acting as the primary support range for Ethereum ($ETH) for the past two years.
The $2,250 to $2,100 zone serves as the primary support range for Ethereum $ETH In the last two years. pic.twitter.com/qWEDtg5Wxp
— Ali Charts (@alicharts) February 2, 2026
Momentum indicators, including the daily RSI, are at oversold levels below 30, indicating the possibility of a relief rally in future trading.
$818 million in market clearing
According to data from CoinGlass, a total of $818 million in leveraged positions disappeared across crypto markets in the past 24 hours. Long positions accounted for the bulk of this figure at $598.29 million, while short positions accounted for $227 million.
Ethereum led the market sell-off, erasing $307.89 million in positions as the price fell, followed by Bitcoin at $273 million.
Total futures open interest (OI) decreased to $110.87 billion, while Ethereum OI fell 2.44% to $28.25 billion in the past 24 hours.
What’s next?
At press time, $ETH It fell 3.63% to $2,299 in the past 24 hours and is down 21% for the week.
The next major resistance levels are at the daily moving averages and the daily moving averages 50 and 200 at $2,996 and $3,666.
The current immediate barrier is $2,623, which was previously support but has now turned into resistance. An increase above the daily moving average may indicate buying momentum. As highlighted above, Ethereum’s support zone lies in the $2,100 to $2,250 range.
As market prices fall, Terence $ETH The developer shared the numbers from the Ethereum network in a tweet.
Over 36 million $ETH The network is currently being bet on, accounting for approximately $80 billion of economic security at current prices.
