February 10, 2026 11:50 (Beijing Time), ETH price approximately $2125 USD, +2.2% in 24h, -10.8% weekly. After a sharp drop, it is oscillating at low levels for recovery, with insufficient volume and continued selling pressure.

I. Core Technical Aspects

- Price and Pattern: Daily chart shows a rebound followed by a pullback, long upper shadow; 1h/4h oscillate within 2100-2180 range; Bollinger middle band acts as resistance, rebound is blocked, bearish dominance.
- Indicators: RSI around 47, neutral to weak; MACD shows a low-level golden cross but short red bars, indicating insufficient momentum; moving averages are in a bearish alignment, with price below MA5/MA10, indicating weak rebound.
- Volume: Rebound with low volume, spot selling pressure has eased but buying has not followed, mainly driven by futures, lacking sustainability.

II. Key Price Levels (USD)

- Support: 2080 (key support and resistance boundary, break below or double bottom); 2000-1980 (strong support, small positions can be re-entered).
- Resistance: 2180-2200 (intraday strong resistance); 2250-2280 (area of heavy trapped positions, 4h level sell points).

III. Trading Strategy (Light Positions + Stop Loss)

- Rebound Strategy: Reduce positions in batches at 2180-2200, target 2150-2120, stop loss at 2220.
- Pullback Strategy: Lightly go long at 2080 on pullback, stop loss at 2060, target 2130-2150; if break below 2080, wait or reverse to short, targeting 2000-1980.
- Position Size: ≤10% per trade, avoid chasing high leverage, strictly control risk during deleverage phase.

IV. Risks and Drivers

- Risks: Fed rate cut expectations in March cooling down, ETF fund outflows ongoing, leverage positions being liquidated, weakening rebound; large sell-offs or macro disturbances could trigger rapid decline.
- Drivers: Spot ETF and liquidity staking provide slight support; short-term oscillation and correction are expected, unlikely to see strong unilateral moves.