Terrill Dicki
Feb 01, 2026 14:04
Ethereum shows oversold conditions at $2,376 with RSI at 25. Technical analysis suggests potential bounce to $2,800-$3,200 range within 4-6 weeks if key support holds.
ETH Price Prediction Summary
• Short-term target (1 week): $2,590-$2,650
• Medium-term forecast (1 month): $2,800-$3,200 range
• Bullish breakout level: $2,807
• Critical support: $2,205
What Crypto Analysts Are Saying About Ethereum
While specific analyst predictions from major crypto personalities are limited in the current timeframe, recent forecasts from established platforms remain optimistic. According to CoinCodex’s January 29 analysis, “ETH price is expected to rise by 10.56% in the next 5 days,” targeting $3,325.67 by February 2, 2026.
ChangeHero’s concurrent forecast aligns closely, predicting “Ethereum is predicted to reach $3,326 by February 2, 2026.” However, these projections were made before the recent -9.61% daily decline that brought ETH to current oversold levels.
On-chain data from major analytics platforms suggests accumulation patterns typical of market bottoms, though specific whale activity metrics indicate cautious positioning among large holders.
ETH Technical Analysis Breakdown
Ethereum’s current technical picture presents a compelling oversold scenario. The RSI reading of 25.09 places ETH firmly in oversold territory, historically a zone where bounce opportunities emerge. This represents the most oversold condition for Ethereum since the broader crypto market correction began.
The MACD indicators show bearish momentum with both the main line and signal line at -138.60, though the histogram at 0.0000 suggests momentum may be stabilizing. This convergence often precedes directional changes in volatile assets like cryptocurrencies.
Bollinger Bands analysis reveals ETH trading significantly below the middle band at $3,000.39, with the current %B position of -0.07 indicating proximity to the lower band support at $2,454.50. This positioning suggests ETH is testing extreme oversold levels relative to its 20-day moving average.
Key resistance levels emerge at $2,591.89 (immediate) and $2,807.10 (strong), while support holds at $2,205.73 (immediate) and $2,034.78 (strong). The daily ATR of $173.23 indicates elevated volatility, typical during oversold bounces.
Ethereum Price Targets: Bull vs Bear Case
Bullish Scenario
The primary bullish case for this ETH price prediction centers on the severe oversold conditions creating a technical bounce opportunity. A break above immediate resistance at $2,591 would target the $2,650-$2,700 range initially.
Sustained momentum above $2,807 (strong resistance) would activate the next leg higher toward the SMA 7 at $2,760.93, followed by a test of the SMA 20 at $3,000.39. Ultimate bullish targets reach the $3,200-$3,326 range, aligning with recent analyst forecasts.
For confirmation, ETH needs daily closes above $2,500 with RSI recovering above 35-40 levels and MACD showing positive histogram readings.
Bearish Scenario
The bearish case for this Ethereum forecast involves a breakdown below critical support at $2,205.73. Such a move would expose the $2,034.78 strong support level and potentially the psychological $2,000 zone.
Extended weakness could target the next major support around $1,850-$1,900, representing a retest of previous cycle lows. Risk factors include broader crypto market weakness, regulatory concerns, or macro-economic headwinds affecting risk assets.
A failure to hold current support levels would invalidate the oversold bounce thesis and suggest deeper correction ahead.
Should You Buy ETH? Entry Strategy
Current oversold conditions present strategic entry opportunities for risk-tolerant investors. The optimal entry zone appears between $2,300-$2,400, close to current levels, with additional accumulation planned if ETH tests the $2,205 support.
Stop-loss positioning should consider the $2,034 strong support level, representing approximately 14-15% downside risk from current prices. This provides a reasonable risk-reward setup given upside targets in the $2,800-$3,200 range.
For conservative approaches, wait for technical confirmation above $2,500 with improving momentum indicators before initiating positions. Dollar-cost averaging over 2-3 weeks could optimize entry timing given current volatility levels.
Position sizing should reflect the inherent volatility in cryptocurrency markets, with most advisors suggesting 5-10% portfolio allocation maximum for crypto positions.
Conclusion
This ETH price prediction suggests a high-probability technical bounce from current oversold levels, targeting the $2,800-$3,200 range within 4-6 weeks. The combination of extreme RSI readings, Bollinger Band positioning, and established support levels creates favorable risk-reward conditions.
However, cryptocurrency markets remain highly volatile and unpredictable. This Ethereum forecast should be considered alongside broader market conditions, regulatory developments, and individual risk tolerance. Price predictions in crypto markets carry significant uncertainty, and investors should never risk more than they can afford to lose.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry substantial risk of loss.
Image source: Shutterstock
Source: https://blockchain.news/news/20260201-price-prediction-eth-targets-recovery-to-2800-3200-by
