The post Tom Lee: ETH Drop is an Attractive Opportunity | Technical Analysis appeared on BitcoinEthereumNews.com.

Fundstrat Head of Research Tom Lee views Ether’s (ETH) recent decline as “attractive” because the network fundamentals continue to remain strong. ETH declined by 21% in the first quarter of 2026, marking its third worst quarterly performance in history. However, Ethereum’s daily transaction volume hit a record of 2.8 million on January 15, and active addresses reached 1 million daily. Lee states that the price weakness stems from non-fundamental factors, pointing to the lack of return to leveraged trading since the October crash and the flight to precious metals. Affiliated with Lee, BitMine, which holds an Ethereum treasury, acquired 41,788 ETH in the last week, reaching a total of 4.28 million ETH (3.55% of total supply) and achieving 70% of its 5% target. Approximately 2.87 million ETH is staked. The price fell 25% in the last week from $3,000 to a $2,200 bear market bottom level, followed by a slight recovery. BitMine sees this pullback as an opportunity that does not reflect ETH’s high utility. Current ETH price is at 2.340,76$ level, up +%5,02 in the last 24 hours. RSI at 27.47 is in the oversold region, trend is downward but recovery signals are present. Click for detailed ETH analysis. Critical Support and Resistance Levels for ETH Support S1: 2.254$ (medium, 59% score, BB Lower & Pivot) Support S2: 1.587$ (medium, 49% score, distant 32%) Resistance R1: 2.396$ (strong ⭐ 73%, close 2.38%) Resistance R2: 3.453$ (strong ⭐ 62%, Fibo 0.618) Supertrend is bearish, EMA 20: 2.784$. These levels are critical in the ETH spot market. Details for ETH futures are here. ETH Main Metrics (Featured Snippet) Price: 2.340,76$ 24h Change: +%5,02 RSI: 27,47 (Oversold) Trend: Downward, EMA20: 2.784$ Frequently Asked Questions About ETH Why does Tom Lee find the ETH decline attractive? Due to strong network volume and active…

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Filed under: News - @ February 3, 2026 5:23 am