{"id":21514,"date":"2026-02-06T18:08:34","date_gmt":"2026-02-06T18:08:34","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-hits-key-support-as-funding-rate-falls-liquidations-jump\/"},"modified":"2026-02-06T18:08:46","modified_gmt":"2026-02-06T18:08:46","slug":"ethereum-price-hits-key-support-as-funding-rate-falls-liquidations-jump","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-hits-key-support-as-funding-rate-falls-liquidations-jump\/","title":{"rendered":"Ethereum price hits key support as funding rate falls, liquidations jump"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum price continued its strong downward trend this week, reaching its lowest level since May last year.<\/p>\n<div id=\"cn-block-summary-block_b6a2383748f10a6c1b75e4f176132ae5\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price dropped to a crucial support level as the crypto market crash accelerated.<\/li>\n<li>Its liquidations jumped to the highest level in months.<\/li>\n<li>Ethereum\u2019s weighted funding rate dropped to its October lows.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Ethereum (ETH) token dropped to a low of $1,768, down by 60% from its all-time high. This retreat coincided with the broader crypto market crash as retail and some institutional investors dumped the coin.<\/p>\n<p>Data compiled by <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a> shows that American investors have sold Ethereum ETFs worth $149 million this year. January is the fourth consecutive month that these funds have shed assets.<\/p>\n<p>Additional data show that Ethereum bulls were heavily liquidated as the crash continued. Ethereum positions worth nearly $2 billion were liquidated since January 31, the highest figure since Oct. 10 when positions worth over $3.8 billion were wiped out.\u00a0<\/p>\n<p>Most importantly, the weighted funding rate turned negative and fell to its lowest level since Oct. 10. A negative funding rate indicates that investors anticipate the coin will decline. It happens when shorts are paying long positions in the perpetual futures market.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>On the positive side, Ethereum\u2019s network is doing well, with Nansen data showing a surge in transactions, fees, and active addresses. Ethereum handled 70 million transactions in the last 30 days, while the number of active addresses rose by 42% to over 15 million.\u00a0<\/p>\n<p>It also holds a leading market share across sectors in the crypto industry, including stablecoins, decentralized finance, and real-world asset tokenization. These fundamentals may help fuel its long-term recovery.<\/p>\n<h2 class=\"wp-block-heading\">Ethereum price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">ETH price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The weekly chart shows that ETH price has pulled back in the past few months. It has dropped from a record high of $4,950 to a low of $1,7686 today. Its lowest point was notable because it coincided with the ascending trendline connecting the lowest levels in June 2022 and April last year.<\/p>\n<p>The price was also important because it was near the left shoulder of the inverted head-and-shoulders pattern. This pattern is one of the most common bullish reversal signs in technical analysis.\u00a0<\/p>\n<p>Therefore, a weekly close above $2,130 will point to a reversal, potentially to $3,000. On the other hand, a close below the support at $1,768 will invalidate the bullish outlook.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price continued its strong downward trend this week, reaching its lowest level since May last year. Summary Ethereum price dropped to a crucial support level as the crypto market&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21514"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21514\/revisions"}],"predecessor-version":[{"id":21515,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21514\/revisions\/21515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11831"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}