Ethereum Price Plunges Below $2,200: Are Bears Aiming for a $2,000 Retest?

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Ethereum Price Plunges Below $2,200: Are Bears Aiming for a $2,000...

Robert Petrov
5 February, 2026, 14:33
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Ethereum Price Extends Losses Below $2,200 as Bears Retain Control

Ethereum continued its downward move, failing to hold above the $2,250 level and extending losses alongside broader market weakness. The price slipped below $2,200, officially entering a bearish zone and signaling continued downside pressure.

Sellers remained aggressive, pushing $ETH below the $2,120 support before a local low formed near $2,073. While Ethereum has since attempted a modest rebound and moved back above $2,120, the recovery remains weak. Price action is still well below the 23.6% Fibonacci retracement of the decline from the $3,040 swing high to the $2,073 low.

At the time of writing, Ethereum is trading below both the $2,200 level and the 100-hour Simple Moving Average. A key bearish trendline has also formed on the hourly $ETH/USD chart, with resistance clustered near $2,255.

Resistance Levels Cap Recovery Attempts

If buyers manage to defend the $2,100 area, Ethereum could attempt another upward move. Immediate resistance lies near $2,200, followed by a stronger barrier at $2,250, where the descending trendline converges.

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A decisive break above $2,250 would open the door for a test of the $2,390 resistance zone. Clearing this level could shift short-term momentum, potentially allowing a move toward $2,550 — the 50% Fibonacci retracement of the prior drop from $3,040 to $2,073.

In a stronger recovery scenario, continued upside could carry Ether toward the $2,650–$2,665 resistance region in the near term.

Downside Risks Remain Elevated

If Ethereum fails to overcome resistance at $2,250, bearish pressure could resume. Initial downside support sits near $2,100, followed by a critical level at $2,075.

A confirmed break below $2,075 would likely accelerate losses toward $2,050. Further weakness could expose the psychological $2,000 level, with the next major support seen near $1,880.