Ethereum Fails Three Rebounds Near $2,000 as Whales and Hodlers Sell

Ethereum is up about 1% over the past 24 hours and remains near the $2,000 level, but it has struggled to recover. Over the 10 days between Feb. 6 and Feb. 15, ETH mounted three separate rebounds that showed early strength but could not sustain higher prices. The token has formed an ascending triangle since early February, with a rising trendline showing buyers stepping in earlier on dips while sellers defend a narrow resistance zone.

Rebounds on Feb. 6 (+23%), Feb. 12 (+11%) and Feb. 15 (+7%) all stalled near the $2,000–$2,120 area. The Chaikin Money Flow crossed above zero on Feb. 15 and sits near 0.05, signaling renewed buying by large investors, but that buying has so far been limited. Large-holder behavior has added pressure.

Whale holdings fell from 113.92 million ETH to 113.66 million ETH—a drop of about 260,000 ETH, roughly $500 million—during the recovery attempts. Long-term holder selling also rose: the Holder Net Position Change remained negative from Feb. 3 to Feb.

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