As of February 3, 2026, Ethereum (ETH) is navigating a volatile recovery phase. After a sharp January decline to the $2,100–$2,200 zone, the price has stabilized around $2,310–$2,350. While on-chain activity remains at record highs, macro pressures like gold's dominance and regulatory uncertainty are currently capping immediate gains.
Possible Next Move
The short-term trend is a cautious rebound. Analysts suggest that if ETH can decisively break and hold above the $2,396 level, it could trigger a "Change of Character"
(CHoCH), leading to a rally toward $2,600 and eventually $2,800. However, fa