February 10, 2026 12:10 (Beijing Time), ETH approximately $2122 USD, 24h +2.2%, Week -10.8%, after a sharp drop, low-level consolidation with insufficient volume, the bearish pattern remains unchanged. The strategy focuses on light positions + stop-loss + range trading.

1. Core Technical Analysis (Preliminary Conclusion)

- Pattern: Long upper shadow on daily chart, narrow oscillation between 2100-2180 on 1h/4h charts, Bollinger Band middle band acting as resistance, weak rebound, continuation of bearish structure.
- Indicators: RSI≈47 (neutral leaning weak); MACD shows a low-level golden cross but with short red bars (insufficient momentum); moving averages are in a bearish alignment, with price below MA5/MA10, clear resistance.
- Volume: No volume on rebound, spot selling pressure easing but buying has not followed, mainly driven by futures, lacking sustainability.

2. Key Price Levels (USD)

- Support: 2080 (key support and resistance, break below or double bottom); 2000-1980 (strong support, small long positions can be tested).
- Resistance: 2180-2200 (intraday strong resistance); 2250-2280 (concentrated trapped longs, 4h level sell points).

3. Executable Trading Strategies (Scenario-based)

- Rebound Short (Priority)
1. Entry: Short on rebounds at 2180-2200 in batches, single position ≤10%.
2. Target: 2150-2120, stop-loss 2220 (breaks indicate trend reversal).
- Pullback Long (Cautious)
1. Entry: Light long positions on pullback to 2080, single position ≤10%.
2. Target: 2130-2150, stop-loss 2060 (breaks indicate reverse short).
3. Breakdown: If below 2080, observe or go short, targeting 2000-1980, stop-loss 2100.
- Position and Risk Management
- Total position ≤30%, single position ≤10%, avoid chasing high and heavy positions, strictly control risk during deleveraging.
- Prefer futures with lower leverage, mainly trade within spot ranges.

4. Risks and Drivers

- Risks: Weakening correlation with BTC, ETF capital outflows, leverage liquidation, poor rebound sustainability; large sell-offs or macro disturbances can trigger rapid declines.
- Drivers: Spot ETF and liquidity staking provide slight support; short-term mainly oscillation and correction, unlikely to see strong unilateral moves.