Ethereum’s price has bounced back above $1,900, much like my Wi-Fi connection when I’m in the middle of a Zoom meeting. But let’s not get too comfortable-this isn’t a comeback, it’s just crypto’s version of a temporary hiccup before the next existential crisis. The chart still looks like a toddler’s crayon drawing, and the “recovery” feels less like a rally and more like a polite cough.
With ETH stubbornly clinging to sub-$1,900 levels, traders are now playing a high-stakes game of “Is this a rebound or a setup?” It’s like watching a reality show where the only prize is a free vacation to Despair Island. Spoiler: the island has no cell service.
The ETH Chart Structure Still Favours the Bears
On the daily chart, Ethereum remains below both the 20-day and 200-day moving averages, which is as comforting as realizing your favorite sweater has shrunk in the dryer. The recent bounce from sub-$1,900 levels? A mere sneeze in a pandemic of pessimism. The bears are sipping margaritas while the bulls fumble for their sunscreen.
Price has also formed a lower high, like a broken record that keeps repeating “you’re not special.” The M-shaped structure? A cryptic message from the market gods: “Down we go, down we go, down we go.” Resistance between $2,050 and $2,100? More like a velvet rope at a club that’s already shut down.
If $1,750 falls, the next stop is $1,600, where the real fun begins. And if that breaks? Welcome to the $1,300-$1,350 “I Told You So” zone. Buckle up.
Ethereum Whales Appear Defensive
On-chain data reveals that whales are trimming positions like they’re prepping for a crypto-themed Marie Kondo cleanse. Accumulation? Not happening. Instead, they’re playing it cool, like they’re at a neighborhood BBQ and someone mentioned the word “pool.”
Strong bottoms are usually supported by large-scale accumulation. Right now, it’s more like a group of squirrels hiding acorns in a breadbox. Conviction? What conviction? The whales are just here for the snacks.
Network Activity Is Rising, But That’s Not Enough Yet
Daily Active Addresses are up, which is nice, like discovering your houseplants are alive-but they’re still not paying your mortgage. Rising activity during weakness is crypto’s way of saying, “Hey, look at us! We’re busy! Very busy!”
Activity alone won’t save this ship. What we need is a miracle, a sustained inflow of capital, or maybe a viral TikTok dance challenge. Until then, dip buyers are like tourists in a war zone-optimistic, clueless, and dressed in pastels.
Is $1,300 the Next Stop for the ETH Price Rally?
The current setup is as stable as a Jenga tower built by a sleep-deprived barista. Retail traders see “value” below $2,000, but the whales are playing coy. This imbalance is like a dating profile that says “loves adventures” but never actually goes outside. If $1,750 cracks, the descent to $1,600 will be faster than a Netflix password reset.
A rebound above $2,100 could flip the script, but until then, the bears are hosting a victory party with open bar and questionable life choices. The next move? Either a heroic reclaim of resistance or a polite nod toward $1,300. Either way, bring snacks.
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2026-02-23 17:27