- Analysis identifies $1,905 as the primary demand zone for “dip buyers,” while $2,020 remains the critical hurdle that bears are currently defending.
- Despite price consolidation, Ethereum maintains over 1 million daily transactions and continues to see healthy staking inflows, providing a fundamental floor.
- Traders are advised to avoid “mid-range” positions and wait for a clear volume-backed reaction at the identified support or resistance levels before entering.
The ever-volatile world of cryptocurrency trading, seasoned analyst Crypto Tony has once again provided valuable insights into Ethereum’s (ETH) price action. In a recent post on X (formerly Twitter), dated February 20, 2026, Tony shared an updated chart for ETH/USD on a one-hour timeframe from Coinbase, emphasizing two critical levels that could dictate short-term movements for traders looking to go long or short.
Support vs. Resistance: Identifying the $1,905 and $2,020 Battlegrounds
The chart depicts Ethereum’s recent downtrend, with the price hovering around $1,968.85 at the time of the post, reflecting a modest 0.14% increase. A descending trendline connects multiple highs, forming what appears to be a bearish channel or wedge pattern. Tony’s annotations highlight a V-shaped arrow at the lower end, pointing to a support zone near $1,905.
This level, marked by a horizontal line, suggests a potential bounce point where buyers might step in, making it an attractive spot for long entries. Conversely, an upper descending arrow targets resistance around $2,020, where sellers could dominate, offering a setup for short positions if the price fails to break through.
Fundamental Friction: Competition from Solana and Regulatory Headwinds
This analysis comes amid broader market uncertainty for Ethereum in 2026. Despite its foundational role in decentralized finance (DeFi), non-fungible tokens (NFTs), and layer-2 scaling solutions, ETH has faced pressure from regulatory scrutiny, competition from rivals like Solana, and macroeconomic factors such as interest rate speculations.
Recent data shows Ethereum’s network activity remains robust, with daily transactions exceeding 1 million and staking rewards attracting long-term holders. However, the price has consolidated in a range between $1,800 and $2,200 over the past weeks, influenced by Bitcoin’s dominance and global economic jitters.
Market Sentiment: Why Volume is the Ultimate Weekend Confirmation
Traders reacting to Tony’s post echoed caution. One commenter noted the importance of volume over mere price levels, while another suggested waiting for liquidation clusters before committing. Leading into the weekend, Tony’s advice aligns with a risk-averse approach: avoid forcing trades in the mid-range and wait for clear reactions at these zones.
For those in the Web3 space, this underscores Ethereum’s resilience as a core asset. With upcoming upgrades potentially enhancing scalability, breaking above $2,020 could ignite bullish momentum toward $2,500. Conversely, a drop below $1,905 might test lower supports at $1,860.
The traders should employ stop-losses and consider their risk tolerance, remembering that crypto markets are unpredictable. Tony’s track record in spotting key inflections makes this update a must-watch. Stay tuned to CoinCryptoNewz for more real-time crypto analyses and strategies.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
