- Ethereum price is trading inside a huge channel on the monthly chart.
- Bitcoin’s crash to $60,000 dragged ETH to its intraday lows.
- After falling to lows of $1,748, ETH risks another leg down.
Ethereum’s price hovers above $1,960 as of writing on February 6, 2026.
This follows a sharp downturn in the past 24 hours, with the top altcoin crashing to lows of $1,700 amid broader market turbulence.
Bitcoin’s crash to $60,000, before rebounding to $67,000, dragged ETH to its intraday lows.
All the top altcoins, including Solana, BNB and XRP, fell sharply amid the bloodbath.
Ethereum price recap
Ethereum fell below $1,800 on Thursday, marking its weakest level since mid-2025 as heavy selling pressure intensified.
The decline followed a sharp drop in Bitcoin to around $60,000, which sent shockwaves through the broader crypto market.
Although prices have since recovered above $1,900, continued ETF outflows and a prevailing risk-off environment suggest bullish momentum remains fragile.
Ethereum is down more than 29% over the past week and about 40% over the past month, underscoring the depth of the recent sell-off.
ETH price prediction: could bears target $1,000 next?
Although bulls are targeting a move back above $2,000, the monthly chart points to a fragile price structure.
The chart paints a massive range with $4,900 forming the top established during the past bear cycle.
At the lower end, the parallel channel suggests potential downside toward the $1,000–$1,200 zone.