The post ETH Technical Analysis Feb 3 appeared on BitcoinEthereumNews.com.

ETH’s 24-hour trading volume has reached 31 billion dollars, trading well above recent period averages; this situation indicates strong market participation supporting the price’s 3.62% rise alongside oversold RSI (27.96) and gives potential accumulation signals. Volume Profile and Market Participation ETH’s current volume profile stands out with 31.05 billion dollars in trading volume over the last 24 hours. This level is approximately twice the 7-day average volume and has created specific enthusiasm for ETH despite the general market stagnation. The high volume is particularly concentrated during the hours when the price bounced from the 2,157 dollar support level; this shows that both retail investors and institutional participants have entered the market. From a market participation perspective, this 3.62% daily rise within the downtrend is supported by a healthy volume increase. While the average daily volume is in the 15-20 billion dollar range, today’s surge confirms real demand behind the price movement. However, the overall trend is still bearish (Supertrend resistance at 2,824 dollars) and the price is below EMA20 (2,785 dollars); thus, monitoring whether the volume increase is sustainable is critical. In the volume profile, the Value Area High (VAH) level forms around 2,395 dollars, while the Point of Control (POC) approaches 2,346 dollars. This implies that buyers are becoming aggressive at lower levels and seller pressure is decreasing. As a divergence, volume is rising as price makes lows – a classic base formation signal. Accumulation or Distribution? Accumulation Signals Signals in favor of accumulation are strong: despite RSI at 27.96 being in the oversold region, a volume explosion is occurring. This suggests that smart money is accumulating at low levels. Particularly, volume clustering at 2,157 dollars (support with 74/100 score) and 2,346 dollars shows that institutions are striving to hold this area. In the last 3 days’ MTF volume…

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Filed under: News - @ February 3, 2026 1:26 am