Ethereum Plunges 5% to $2,260 Amid Oversold RSI and Bearish Technicals

Ethereum (ETH) price dropped 5.07% over the past 24 hours to $2,260.20 as of 16:23 UTC on February 3, 2026, intensifying its downtrend with oversold indicators flashing amid high trading volume.

Key Data Points

ETH hit a 24-hour low of $2,251.94 NEAR the Bollinger Band lower at $2,247.11, with volume surging to $19.87 billion, per technical analysis data. RSI (14) stands at 26.61 (oversold), Stochastic K/D at 15.86/12.86 (oversold), and MACD bearish with a negative histogram. Price remains below EMA 20 ($2,780), EMA 50 ($2,967), and EMA 200 ($3,649), confirming the downtrend via Supertrend signal.

Brief Context

Bitcoin (BTC), down 2.58% to $76,976.80, mirrors ETH's bearish trend, pressuring altcoins. Multi-timeframe analysis highlights strong support at $2,150 (90/100 score) and resistance at $2,396 (68/100).

What's Next

Oversold conditions suggest potential short-term bounce to R1 resistance at $2,396 (+4.11%), but strong supports at $2,134 (-7.25%) loom if selling persists. Watch pivot point at $2,304.54.