ETHUSD Today: February 02 $2.5K Support in Focus After 10% Selloff
The ethereum price is under pressure today, 2 February, after a sharp 10% slide. The pair ETHUSD trades near $2,449 as the $2.5k support comes into focus for Australian traders. With leverage building and spot participation thinning, a clean break could spark crypto liquidations toward $2,200–$2,000. A swift reclaim of $2,700–$3,000 would instead steady sentiment. We outline key ETHUSD support levels, risk signals, and practical tactics for AU accounts so you can plan entries and exits with clarity.
Price Action and Levels to Watch
After the selloff, ethereum price sits around $2,449.36, down 13.08% on heavy turnover. Today’s range printed $2,238.74–$2,710.09, with volume 578,139,878 versus a 312,797,390 average. Year to date the pair is off 10.38458%, and 1-year performance is -17.20257%. Price is well below the 50-day $3,050.7792 and 200-day $3,671.0426 averages, putting the burden on buyers into the $2.5k area.
The $2,500 handle aligns with dense stop liquidity from prior swing lows. If it fails, $2,200 and $2,000 are the next high-probability magnets where bids may rebuild. A quick push back through $2,700–$3,000 would trap shorts and ease pressure. Today’s 10% slide was flagged by broad risk-off across majors, as noted by Investing.com.
Leverage, Spot Flows, and Liquidations
Leverage has been climbing while spot flows fade, a mix that often amplifies moves. Recent notes show open interest expanding faster than spot demand, which can increase whip-saw risk around intraday breaks. Meyka highlighted the same dynamic earlier this week, with $2.5k repeatedly tested as participation thinned source. For AU traders, that means tighter risk controls during local hours.
If $2.5k gives way with force, forced selling could cascade through nearby ETHUSD support levels. ATR near 149.39 shows wide ranges, so wicks can be deep. Liquidity pockets likely sit near $2,350, then $2,200–$2,000. A firm reclaim above $2,700 would start to neutralise liquidation risk. Keep position sizes small if trading into the move and avoid market orders during spikes.
Technical Setup After the Slide
RSI at 49.07 is neutral, while ADX at 24.43 suggests a trend building but not dominant. The MACD histogram at 29.38 hints at improving momentum, yet price is below key moving averages at $3,050.7792 and $3,671.0426. In short, momentum can improve quickly, but trend confirmation needs higher lows above $2,700 and a weekly close back inside the prior range.
With Bollinger lower at $2,771.08 and Keltner lower at $2,773.98, price slipping to $2,449 means a stretched move. This increases mean-reversion odds, but stretched does not mean safe. The ethereum price can remain below bands during liquidation events. Patience helps: wait for reclaim candles and rising spot volume before chasing bounces, especially during Sydney afternoon liquidity lulls.
Scenarios and Plans for Australian Traders
Trade plans should be simple. For intraday, look for acceptance back above $2,700 to join strength with stops under the breakout bar. For breakdowns, fade less and follow. Keep sizes modest, respect slippage, and use limit orders. AUD conversion can affect ticket size, so confirm FX before entry. Watch open interest and funding shifts for confirmation, not as trade triggers.
Base case: hold $2,500 and grind toward $2,700–$2,800. Bear case: lose $2,500 and probe $2,200–$2,000. Our model estimates print Monthly $2,536.09, Quarterly $2,787.04, and Yearly $3,636.0855059264504. These are not guarantees. They frame bias if downside levels hold. Set alerts at $2,500, $2,700, and $3,000 to avoid over-trading noise.
Final Thoughts
The ethereum price sits at a decision point for 2 February. We see $2,500 as the first line that needs to hold to avoid deepening crypto liquidations toward $2,200–$2,000. A fast recovery through $2,700–$3,000 would stabilise tone, reduce forced selling, and improve risk reward for fresh longs. Indicators show high volatility and neutral momentum, so confirmation matters more than prediction. For Australian traders, keep plans level-driven, size small, and orders disciplined. Use alerts, monitor open interest alongside spot volume, and let the market prove strength before adding risk. Protect capital first, then look to participate once the range resolves.
FAQs
Will $2.5k hold for Ethereum today?
It can, but it needs responsive buyers on dips and rising spot volume. If $2.5k fails with momentum, $2,350 and then $2,200–$2,000 are logical downside magnets. A quick reclaim above $2,700 would reduce pressure and improve odds that the ethereum price builds a higher low.
What would confirm a bounce is real?
A close back above $2,700 with stronger spot volumes than recent hours and fewer long liquidations. Follow-through toward $2,800–$3,000 and shallow pullbacks would further validate. Without those, the ethereum price can slip back into the range and invite another liquidity sweep lower.
Where could crypto liquidations accelerate next?
Liquidations often accelerate below clustered stops. If $2,500 breaks on high impulse, watch $2,350 first, then $2,200–$2,000. Those areas may catch the move, but during fast tape conditions, the ethereum price can overshoot. Use limit orders and predefined risk rather than chasing momentum.
How should Australian traders adjust today?
Keep trade plans simple and level-based. Use smaller position sizes, wider but defined stops, and limit orders to control slippage. Check AUD conversion before placing tickets. Track open interest and spot volume as context, not signals. If price reclaims $2,700, consider strength; if $2,500 breaks, prioritise defense.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
