February 10 | ETH Price Trend Analysis

MicroChainAi · 2026-02-10T01:58:40+00:00

ETH current price $2,098.50, after short-term oversold correction, consolidating and recovering, with support at $1,738 and resistance at $2,539. RSI approaching oversold levels, MACD momentum weakening, need to break through resistance to confirm trend reversal. Market sentiment is neutral; operational advice is to monitor key levels and be cautious about the sustainability of the rebound.

MicroChainAi

2026-02-10 01:58:40

Key Points

Current Price: $2,098.50 (As of: February 10, 2026, 09:54)
Short-term Outlook: Rebound after oversold conditions, short-term consolidation bottoming
Key Support Levels: $1,820 / $1,738
Key Resistance Levels: $2,450 / $2,539

Technical Analysis

ETH’s current price of $2,098.50 is near critical technical levels. The daily RSI is at 32.16, approaching oversold territory (RSI below 30 is typically considered oversold), indicating a short-term rebound demand. The price is supported near the lower Bollinger Band ($1,738), but remains constrained by the 20-day Simple Moving Average (SMA 20, $2,539) and Exponential Moving Average (EMA 20, $2,450), which form immediate resistance levels.

From the price trend, ETH bottomed at $1,820 on February 6 and has since started to rebound, currently testing the $2,100 level. The MACD daily chart shows negative values but the histogram is narrowing (-45.09), suggesting weakening downward momentum. The short-term technical outlook favors a corrective rebound, but a confirmed trend reversal requires breaking through the $2,450-$2,539 resistance zone.

Market Sentiment and Derivatives Analysis

Derivatives market shows a neutral to slightly stable sentiment. Total open interest has reached $50.8 billion, indicating high market participation, but leverage risk remains manageable. The average funding rate is 0.2078%, which is neutral (positive rates indicate bulls are slightly dominant, but not significantly), with no signs of extreme leverage.

The 24-hour liquidation volume is $77.64 million, with a long-short liquidation ratio of 0.77 (more shorts liquidated than longs), reflecting a gradually balancing sentiment after the recent low near $1,820. Combining open interest and funding rate data, there is no sign of panic selling or FOMO buying, supporting the view of short-term consolidation.

Risk Warning

On-chain valuation metrics (such as MVRV, NUPL) are temporarily unavailable, limiting precise assessment of market cycle position. The current analysis is based on technical and derivatives data cross-validation. Close attention should be paid to the integrity of the $1,738 support level; a breakdown could lead to retesting previous lows. On the upside, watch for a successful breakthrough of $2,539 to confirm the continuation of the rebound.

Overall, ETH is in a short-term oversold correction phase, but the long-term trend requires more data confirmation. Investors should remain cautious and monitor key level breakthroughs.

ETH-1.71%

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