Quick overview

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Ethereum is still under pressure following a recent drop that stopped the recovery’s momentum.  ETH is not showing any signs of long-term growth, although it has recovered the $2,000 mark and is currently trading at $2,085.

Ethereum faces not only resistance levels but also indecision among key holders. In any cryptocurrency market, two of the most significant cohorts are whales and long-term holders. In Ethereum’s case, both groups are sending mixed signals.

Prolonged sideways price action results from this misalignment. Between February 9 and February 12, addresses with between 100,000 and 1 million ETH sold about 1.3 million ETH.

The value of that sale is approximately $2.07 billion. Nevertheless, within the next 48 hours, the same group bought 1.25% of ETH.

Long-term holders had been steadily accumulating ETH since late December 2025.

That trend shifted at the beginning of February. They started a modest distribution and reduced their purchasing activity.

Although the selling pressure hasn’t been very strong, it suggests that investors’ confidence is growing. Bullish momentum remains limited by cautious long-term holders and mixed whale activity.

Ethereum may struggle to rise above key resistance levels without consistent accumulation from these groups. The currency has successfully surpassed the $2,000 mark and is now trading at $2,087. The next major resistance level is $2,241. For the market to advance to that point, dominant holder groups need to have a clearly bullish outlook. The most probable scenario remains consolidation.