Ethereum Slips Toward $1,900 as Selling Pressure Intensifies

TheNewsCryptoPublished on 2026-02-11Last updated on 2026-02-11

Abstract

Ethereum (ETH) declined further, trading near $1,950 with a 3% drop as selling pressure dominated. Technical indicators show ETH trading below key moving averages, with the RSI in negative territory. Support is seen around $1,930–$1,950, with a break below potentially leading to $1,900 or lower. Resistance lies near $2,050. Despite the bearish trend, institutional interest remains strong, with Bitmine staking an additional 140,400 ETH and increasing its total holdings to over 4.366 million ETH, indicating long-term conviction.

Ethereum (ETH) traded lower on Wednesday, sliding further into negative territory amid broad crypto market pressure and bearish technical signals. At the time of writing, ETH is changing hands near $1,951.90, marking a 3.09% drop in the past 24 hours as sellers dominate the short-term trend.

Intraday price activity showed an early low of $1,932.36 and an intraday high of $2,045.21. On the ETH daily chart, long red candlesticks outnumber green bars over the past sessions, a pattern consistent with sustained selling pressure. The altcoin has also seen key moving averages flatten and converge, prop up short-term bearish bias as trend lines slope downward.

Analyzing the ETH/USDT 1 day char, technical indicators show ETH trading below its key simple moving averages. The 50-day SMA stands near $2,839.37, the 100-day SMA around $2,967.94, and the 200-day SMA near $3,582.45. Price remains significantly below all three averages, indicating sustained medium- and long-term weakness. The downward slope of the 50-day and 100-day averages suggests continued bearish trend alignment.

Meanwhile, the RSI histogram reading is approximately -32.23, remaining in negative territory and signaling weak buying momentum. Zooming in, the immediate support is seen around the $1,930–$1,950 zone, aligning with today’s intraday low. A break below that level could expose the psychological $1,900 area and a deeper loss could pull ETH to $1,700 zone. On the upside, near-term resistance is forming around $2,020–$2,050, in tune with today’s intraday high and recent breakdown levels. Broader resistance levels remain near the 50-day moving average at $2,839.

Bitmine Keeps Buying and Staking Ethereum

Despite Ether’s negative price action, institutional interest in Ethereum persists in other forms. Bitmine Immersion Technologies, the publicly listed Ethereum treasury firm chaired by Fundstrat co-founder Tom Lee, continues to accumulate and stake large amounts of ETH, a sign of long-term conviction.

According to on-chain data, Bitmine staked an additional ~140,400 ETH, valued at roughly $282 million, bringing its total staked balance to over 2.97 million ETH. This represents more than 68.7% of its total ETH holdings.

In the past week, Bitmine also acquired over 40,000 ETH, lifting total holdings to about 4.366 million. Bitmine’s total ETH inventory is now approximately worth about $8.5 billion in value, indicating ongoing accumulation even amid weakness in ETH price.

While short-term price action remains weak, the backdrop of significant institutional accumulation and staking underlines continued long-term interest in Ethereum among major holders.

TagsAltcoinCrypto MarketETHETHEREUM

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
aPrioriAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
cake
PancakeSwapCAKE
jst
JUSTJST

Related Reads

Annual Salary of Millions Competing for Electricians, Meta Rushes to Open Its Own Technical School

The AI boom is facing an unexpected bottleneck: a severe shortage of skilled construction workers and electricians. As tech giants like Meta, OpenAI, and Alphabet race to build massive data centers—such as OpenAI's $16 billion "Stargate" project—they are hitting a critical labor wall. The U.S. needs an estimated 130,000 more electricians, 240,000 construction workers, and 150,000 supervisors by 2030 for AI infrastructure alone, but tens of thousands of electrician jobs go unfilled each year. While AI companies offer high premiums, with electricians earning up to $280,000 annually, worker scarcity still causes massive losses—delays on a single project can cost $14.2 million per month. The complexity of building AI data centers, which require immense power (equivalent to powering hundreds of thousands of homes), sophisticated electrical systems, and advanced liquid cooling solutions, demands highly skilled technicians who are in short supply. To combat this, companies are investing heavily in training. Meta has committed $115 million to a free training school offering tuition, housing, and stipends, targeting 5,000 new workers. OpenAI is partnering with unions to secure skilled labor. These efforts are paying off, with a significant rise in Gen Z interest in trade schools over college. However, the power demands are staggering. AI data centers are driving a rapid surge in electricity consumption, projected to account for up to 12% of U.S. power use by 2028 and raising costs for consumers. Furthermore, the construction boom is project-based, leading to a potential future glut of trained workers once building peaks, which could depress wages industry-wide. The race for AI supremacy now depends as much on skilled hands as on advanced chips.

marsbit27m ago

Annual Salary of Millions Competing for Electricians, Meta Rushes to Open Its Own Technical School

marsbit27m ago

OpenAI No Longer Sells Its Most Expensive Model for Profit

OpenAI is shifting its business strategy away from promoting its most expensive, flagship models for every task. Recent price cuts—80% for GPT-5.6 Luna and 20% for Terra—signal a deeper change: the company now actively advises users that many tasks don't require the most powerful model. Instead, OpenAI recommends a tiered approach: use the high-end GPT-5.6 Sol for complex planning and analysis, then delegate execution to cheaper models like Luna. This mirrors moves by Anthropic, which recently launched Claude Opus 5 at half the price of its top model, Fable 5. Both companies are de-emphasizing flagship models as primary revenue drivers, using them instead for brand prestige and technological showcases. The industry is entering a "mass-market" phase, similar to automotive, where high-volume, cost-effective models handle daily operations and drive scale. OpenAI's price reductions are partly enabled by AI models themselves optimizing underlying code and infrastructure, creating a self-reinforcing cycle of efficiency gains and cost reduction. Competition is shifting from "who is smartest" to "who offers the best value." The goal is no longer selling individual models but fostering widespread API adoption and ecosystem lock-in. By making AI calls cheap and ubiquitous, companies like OpenAI aim to become the indispensable, utility-like infrastructure powering automated workflows—the "water and electricity" of software, quietly embedded everywhere.

marsbit27m ago

OpenAI No Longer Sells Its Most Expensive Model for Profit

marsbit27m ago

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

Coldcard hardware wallet users are facing a new wave of coordinated attacks targeting a firmware flaw, with researcher Alex Thorn flagging 218 recent transactions moving approximately 389 Bitcoin from potentially impacted addresses. The attack pattern shows a high rate of transactions targeting unique victim addresses, differing from previous waves. The vulnerability, which causes affected devices to generate weaker wallet seeds, is estimated to have impacted over 1,100 wallets, leading to around $90 million in Bitcoin stolen. Thorn advises affected users who control their keys may attempt to move funds with a higher-fee transaction before the attacker's transactions are confirmed.

cointelegraph34m ago

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

cointelegraph34m ago

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

Bitcoin miners are capitulating as evidenced by a sustained drop in network hash rate and a record-steep 19.9% decline in mining difficulty, signaling the shuttering of unprofitable machines. However, in a significant divergence from historical patterns, the stocks of publicly traded mining companies have soared, with one major player gaining over 430% in the past year, even as BTC's price fell roughly 46%. This surge is largely attributed to these companies pivoting toward the more lucrative AI narrative. Simultaneously, miners face a structural squeeze. Daily block reward revenue in BTC terms has hit a new all-time low following the latest halving, with current dollar-denominated daily revenue around $30 million compared to a longer-term average of ~$40 million. Fee revenue remains negligible, covering less than one block's subsidy over a 28-day average and accounting for only about ten minutes of the network's daily security budget. This capitulation cycle is unique: miner stress and crypto price weakness have decoupled due to alternative revenue streams (AI), while the long-term reliance on increasing bitcoin prices to offset shrinking subsidies continues, with fee income still far from filling the impending gap.

marsbit37m ago

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

marsbit37m ago

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

The market's expectation for a September Fed rate hike surged dramatically in early August, jumping from under 50% to over 80% within a week. This shift followed a contentious July FOMC meeting, where a 9-3 vote to hold rates revealed growing dissent from hawkish members advocating for an immediate hike to combat persistent inflation. The primary catalyst for this repricing is rising oil prices, driven by renewed geopolitical tensions around the Strait of Hormuz, which threaten global supply. Energy costs directly influence inflation metrics, making the upcoming July CPI report (due August 12th) a critical data point. If it shows inflation reaccelerating, the probability of a September hike will solidify. For Bitcoin and crypto assets, this is typically bearish news. Bitcoin continues to behave as a high-beta, liquidity-sensitive risk asset. A rate hike raises the opportunity cost of holding non-yielding assets and could drive capital toward money markets, pressuring crypto prices in the short term. However, historical patterns suggest that if a hike is perceived as the end of a tightening cycle rather than the start, any negative price impact may be brief. U.S. stocks, particularly crypto-linked equities like Coinbase and growth-oriented tech stocks, are also vulnerable. Higher rates increase discount rates in valuation models, putting pressure on high-multiple companies. This coincides with a pivotal tech earnings season where investor focus has shifted from massive AI capital expenditure to tangible revenue and cash flow generation. Companies with negative cash flow and weak growth narratives could face heightened volatility if borrowing costs rise in September. In summary, a September Fed hike has evolved into a mainstream market scenario. Key factors to watch are oil prices, the July CPI report, and Fed communications, which will determine the final decision and its impact on volatile crypto and equity markets.

marsbit37m ago

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

marsbit37m ago

Trading

Spot

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ETH (ETH) are presented below.

活动图片

Top Questions