Ethereum (ETH), along with Bitcoin, has been heavily impacted by the overall bear market wave in the cryptocurrency market. The current price is trading in the $1,790-$1,850 range (having tested the $1,750 level with a 13-17% drop in the last 24 hours). This level marks the lowest point seen since May 2025 and represents a loss of approximately 63-65% from the historical peak of around $4,900 reached in October 2025. Key Points:

Recent downtrend: Parallel to Bitcoin's decline to around $63,000, ETH also experienced sharp selling due to liquidation of leveraged positions, exits from ETFs, and general risk aversion. Market sentiment: The fear index is very high, with many analysts believing that a capitulation phase has begun. The ETH/BTC ratio is also at historically low levels; Ethereum is performing much worse than Bitcoin.
Technical outlook: The 200-day moving average has been broken. The main support zones are $1,700–$1,750, while resistance is in the $2,100–$2,300 range. Many technical analyses predict that even the $1,400–$1,700 range could be tested.
On-chain and institutional situation: Net outflows from spot ETH ETFs continue. Although staking and Layer-2 activities are still strong, short-term price momentum is entirely under seller control.
Short-term outlook: Most analysts state that a sustained return above $2,000 during February 2026 is unlikely, and a deeper bottom should be sought first. However, some historical cycle commentators argue that this collapse could be a preparatory phase for the next bull run. In short: Ethereum is currently in a deep bear market and has largely lost value from its 2025 peak. With panic selling and liquidity squeeze continuing across the market, more downward pressure is expected instead of a recovery in the short term.
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