Ethereum worth lately didn’t maintain a breakout above $2,100, forcing the altcoin right into a consolidation part. The rejection bolstered resistance and shifted short-term momentum decrease. Exterior developments fueled expectations of restoration, however restricted investor participation muted their impression.
ETH has since slipped again right into a structured vary. Broader crypto market circumstances stay fragile, amd the present construction displays hesitation somewhat than renewed confidence.
BitMine Maintains Its Alchemy of 5%
On February 23, BitMine introduced it had acquired a further 51,162 ETH over the week, value greater than $93 million. The acquisition represented one of many bigger institutional Ethereum buys in current weeks. Nonetheless, the announcement didn’t generate sustained upward worth motion.
4/
Listed here are our weekly buys by week
Weekly ETH buys (by week ending):
-2/23/26: 51,162 ETH tokens
-2/17/26: 45,759 ETH
-2/9/26: 40,613 ETH
-2/1/26: 41,788 ETH
-1/26/26: 40,302 ETH
-1/20/26: 35,628 ETH
-1/12/26: 24,266 ETH
-1/5/26: 32,977 ETH
-12/29/25:…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) February 23, 2026
As a substitute of triggering accumulation, long-term holders resumed distribution. On-chain information suggests some traders doubtless used the headline as liquidity to cut back publicity. This response highlights that the Ethereum worth stays extra delicate to broader market cues than particular person company acquisitions.
Ethereum HODLer Place Change. Supply: Glassnode
Ethereum Holders Are Struggling
Ethereum’s HODL waves present perception into investor habits. Brief-term holders have matured into mid-term holders, with the 3- to 6-month provide rising by 5% over the previous week. This shift signifies traders are ready somewhat than exiting positions.
Underwater holders seem reluctant to comprehend losses. Their choice to carry helps worth stability. Nonetheless, this similar warning could also be limiting recent shopping for exercise. Buyers are prioritizing restoration affirmation earlier than committing further capital to ETH.
ETH Worth Might Slide Additional
Ethereum is buying and selling at $1,824 on the time of writing after dropping the $1,928 help degree. The Parabolic SAR indicator now sits above the candlesticks, signaling a confirmed short-term downtrend. This technical setup suggests sellers presently management momentum.
The subsequent main help for ETH stands at $1,750. A decisive break beneath that degree may expose the cryptocurrency to additional draw back towards $1,595. Weak macro circumstances and chronic outflows could amplify volatility if help fails to carry.
The CBD heatmap identifies a big demand zone between $1,880 and $1,900. Ethereum slipped beneath this vary in the course of the current decline. If consumers from this zone choose to promote to restrict losses, draw back stress may speed up throughout spot and derivatives markets.
Conversely, resilience amongst holders may shift momentum. A rebound towards $1,928 would sign bettering construction. Reclaiming that degree as help could open ETH’s path towards $2,108. A sustained breakout above that resistance would invalidate the present bearish thesis and restore bullish momentum.
