At a Glance
- Ethereum is trading near $3,000.
- ETH/BTC sits just above 0.0327 BTC support.
- Exchange reserves drop to 16.2 million ETH, the lowest since 2016.
Why it matters: The price action and on-chain signals suggest a potential rebound if the lower channel boundary holds.
Ethereum is hovering around $3,000 after a recent pullback from $3,400, keeping a rising channel that began in November 2025 intact. The dip was brief; buyers stepped in at the lower edge of the channel, preserving the broader trend.
Price Action & Channel Dynamics
The current move follows a bounce from the $2,900-$2,950 zone, a level that has repeatedly acted as support in recent months. The price remains below both the midline of the channel and the 50-day moving average, which sit between $3,060 and $3,100. A break above these levels could open the way toward the top of the channel, near $3,600-$3,700.
| Level | Significance | Current Position |
|---|---|---|
| Lower channel | Support | $2,900-$2,950 |
| Midline | Trend line | Below |
| 50-day MA | Moving average | Below |
| Upper channel | Resistance | $3,600-$3,700 |
Alpha Crypto Signal noted, “$ETH is holding above the channel support and quickly reacted from the lower boundary, which signals that buyers are still defending this trend aggressively.” Batman echoed this sentiment, saying, “It’s currently nearing its last line of defense… If there’s an area for Ethereum to rebound, this is it.”
ETH/BTC Pair & Support Levels
Ethereum’s position against Bitcoin has also drawn attention. The ETH/BTC pair is resting just above 0.0327 BTC, a level marked as a higher-timeframe support zone. The price action has fallen below the 21-day moving average, which may signal short-term weakness. Michaël van de Poppe, founder of MNF Fund, emphasized the importance of a recovery: “$ETH vs. $BTC continues to rest on an important support level here… the momentum needs to come back through reclaiming the 21-Day MA. That’s the most important part.”
On-Chain Accumulation & Staking
Beyond price action, Ethereum’s realized price for accumulation wallets is nearing the current market price. Analyst CW shared, “The realized price of the $ETH accumulation address continues to rise and is approaching the current price. This indicates that accumulation is still ongoing.” On-chain trends show the $2,720 range has historically held up as a floor.
Staking activity has surged, further reducing the liquid supply. The increased staking volume aligns with the observed drop in exchange reserves, suggesting institutional participation.
Exchange Reserves & Market Sentiment
CryptoQuant data indicates that ETH balances on exchanges have declined to 16.2 million, the lowest level since 2016. Binance saw a reduction from 4.168 million to 4 million ETH since early January, reflecting a shift toward staking and wallet storage. This depletion of on-exchange liquidity supports the narrative of a bullish accumulation phase.
| Exchange | ETH Balance (Feb 2026) | Change Since Jan 2026 |
|---|---|---|
| Binance | 4.0 million | -0.168 million |
| All Exchanges | 16.2 million | Lowest since 2016 |
Special Offer & Takeaway
News Of Los Angeles offers a secret partnership bonus for its readers: register and unlock $1,500 in exclusive BingX Exchange rewards. The promotion is limited-time.
Key Takeaways
- Ethereum’s price action remains within a resilient channel, with the lower boundary acting as a critical support.
- The ETH/BTC pair’s proximity to the 0.0327 BTC support level underscores potential bullish momentum.
- On-chain data, including realized price proximity and staking growth, signals ongoing accumulation.
- Exchange reserves have fallen to historic lows, supporting a bullish narrative.
- A limited-time offer is available for News Of Los Angeles readers, providing additional incentives to engage with the market.
