ETH Technical Analysis Feb 18

Ethereum price is trading close to a critical support region at the 1.992$ level; as downward pressure increases along with the 24-hour low of 1.941$, a potential breakdown could trigger a liquidity hunt.

Current Price Position and Critical Levels

Ethereum (ETH) is trading at the 1.992$ level within the overall downtrend, with a short-term bearish structure dominant. The price is positioned below EMA20 (2.183$), confirming weak momentum; RSI at 34.59 is approaching the oversold region, while Supertrend is giving a bearish signal (resistance 2.416$). The 24-hour range has narrowed between 1.941$-2.015$, with volume neutral at 12.43 billion$. Multi-timeframe (MTF) analysis has identified 13 strong levels: 1D (2 supports/2 resistances), 3D (1S/2R), 1W (2S/4R). This confluence indicates that the current price is in a testing phase at the primary support of 1.966$; in case of a breakdown, the 1.826$ liquidity pool could be targeted.

Support Levels: Buyer Pools

Primary Support

The 1.966.57$ level (score: 81/100) stands out as the most critical buyer region. This level has order block (OB) confluence on 1D and 1W timeframes; it has been tested 4 times in the last 3 months, showing strong rejections (average 2.5% bounce). Volume profile is high (1D volume delta positive), perfectly aligned with the 1.941$ 24h low. It is reinforced by EMA50 (1.975$), forming a liquidity accumulation area (ideal for stop-loss hunting). A breakdown would trigger bearish continuation and lead to the secondary support.

Secondary Support and Stop Levels

1.826.83$ (score: 71/100) is a deeper demand zone; formed as a breaker block on the 3D timeframe, with historical tests at the November 2025 swing low (5 rejections, 3%+ recovery). 1W EMA200 (1.840$) confluence, low-volume wicks indicating liquidity. Invalidation level is a close below 1.966$; in that case, the downside target of 961$ (long-term FVG) activates. Stop-loss recommended below 1.941$, with R/R ratio potential of 1:3+.

Resistance Levels: Seller Pools

Near-Term Resistances

2.013.94$ (score: 67/100) is the near-term supply zone; perfectly overlapping with the 24h high of 2.015$, mitigation block (OB rejection) on 1D timeframe. Tested 2 times in the last 48 hours, with bearish pinbars showing rejection (1.2% drop). Volume spike (negative delta) ahead of EMA20 (2.183$) approach, pulling short position liquidity here. Volume breakout required for breakdown, otherwise high fakeout risk.

Main Resistance and Targets

2.472.88$ (score: 63/100) is the main resistance; premium supply array on 1W and 3D, with 3 tests at the February 2025 high (strong sell-offs, 5%+ drops). Confluence with Supertrend resistance at 2.416$, aligned with Fibonacci 0.618 (61.8% retrace). This acts as a barrier before the upside target of 2.000$ (psychological); if broken, 2.600$ extension. Historical volume 40% lower, institutional selling pressure likely.

Liquidity Map and Big Players

Big players (smart money) are targeting a liquidity grab below 1.966$; this level features retail stop-loss clustering (between 1.941$-1.966$). Above, equal highs/lows at 2.013$ could sweep buy-side liquidity. Order flow analysis shows bearish imbalance on 1D; rising BTC dominance accelerates altcoin liquidity hunts. Volume delta negative, manipulation signal: 1.826$ pool on downside, 2.013$ trap on upside. News flow (Peter Thiel ETHZ departure, BlackRock staking 18% fee) could increase volatility and trigger liquidity.

Bitcoin Correlation

BTC at 67.485$ level in downtrend (24h -1.68%), 0.85 correlation with ETH; if BTC supports at 66.597$-62.910$ break, ETH gets dragged to 1.826$. If BTC resistances at 68.048$-71.217$ are not overcome, altcoin pressure continues, Supertrend bearish warning. ETH/BTC pair low at 0.0295, BTC recovery supports ETH bounce but rising dominance (currently 55%+) is risky. Key BTC levels: below 66k is a red flag for ETH.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above 1.966$ leads to short-covering rally to 2.013$ (target 2.000$, invalidation below 1.941$). On breakdown, short to 1.826$ (R/R 1:4, stop 1.975$). For spot trades, follow the ETH spot page, for futures the futures page. Wait for multi-TF confirmation (1H/4H rejection), enter on volume spike. News triggers (BlackRock ETF) create volatility; risk management essential (position 1-2%). Overall: Bearish bias, opportunities after support test.