Ethereum

Momentum

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Key Insights:
<ul>
 <li>Binance ETH NUPL falls to -0.16, lowest level in nine months.</li>
 <li>Ethereum remains below $2,000 as technical indicators show weak momentum.</li>
 <li>Bitmine holds 4.37 million ETH, nearing 5% supply ownership target.</li>
</ul>
<figure class="wp-block-image aligncenter size-full">
 <figcaption>ETH Struggles Below $2K as NUPL Signals Losses
 </figcaption>
</figure>
Ethereum <a href="https://coincu.com/top-crypto-coins/eth-price-update" rel="noopener noreferrer nofollow">trades</a> at $1,964.58 after recent declines. The asset has slipped 0.52% in 24 hours and 4.67% over seven days. Trading volume stands at $10.05 billion as price stays below the $2,000 mark.
On-chain data shows Binance Net Unrealized Profit and Loss at a nine-month low. The current reading sits near -0.16, which means many ETH coins held on Binance are in unrealized loss.
<h2 class="wp-block-heading" id="strong-binance-nupl-falls-into-negative-territory-strong">Binance NUPL Falls Into Negative Territory</h2>
NUPL tracks whether exchange-held coins sit in profit or loss. A negative value shows that holders would exit below their cost basis at current prices. The latest -0.16 level marks the weakest reading since early 2025.
Kamran Asghar wrote that “Ethereum NUPL on Binance just hit a 9-month low.” He added that with ETH near $1,973, a large share of coins on the exchange are underwater. Similar drops below zero have appeared during prior market downturns.
The chart shows ETH falling from above $3,000 toward the $2,000 range while NUPL declined in parallel. The latest price slide pushed the metric deeper below zero.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 https://twitter.com/Karman_1s/status/2025542217193132501?s=20
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</figure>
<h2 class="wp-block-heading" id="strong-eth-price-trades-below-key-resistance-strong">ETH Price Trades Below Key Resistance</h2>
The daily ETH/USDT chart shows a downtrend from the $3,300–$3,400 zone. Price has printed lower highs and lower lows over recent months. A sharp drop in early February sent ETH near $1,800 before price steadied.
The $2,000 level now acts as <a href="https://coincu.com/ethereum/ethereum-reclaims-2000-bulls-target-break/" rel="noopener noreferrer nofollow">resistance</a>. ETH has not reclaimed the $2,100–$2,200 area. Support sits near $1,900, followed by the $1,800 swing low.
RSI stands near 34, close to oversold levels. MACD remains below zero, though histogram bars have narrowed. Momentum has slowed, but the overall structure remains weak.
<figure class="wp-block-image aligncenter size-large"><img src="https://coincu.com/wp-content/uploads/2026/02/image-262-1024x524.png" alt="Source: TradingView">
 <figcaption>Source: <a href="https://www.tradingview.com/x/iOURD3Vt/" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="strong-bitmine-moves-toward-5-supply-target-strong">Bitmine Moves Toward 5% Supply Target</h2>
While exchange balances show unrealized losses, Bitmine Immersion Tech continues to build reserves. The company holds 4.37 million ETH, worth about $8.69 billion. This equals 3.61% of total supply.
Crypto Rover <a rel="noopener noreferrer nofollow">stated</a> that Bitmine’s target to control 5% of ETH supply is “72.3% complete.” The firm has increased holdings steadily since mid-2025. The dashboard lists $670 million in available cash for potential purchases.
<figure class="wp-block-image aligncenter size-large"><img src="https://coincu.com/wp-content/uploads/2026/02/image-263-1024x445.png" alt="Source: Crypto Rover/X">
 <figcaption>Source: Crypto Rover/X
 </figcaption>
</figure>
Exchange metrics reflect pressure on holders, while corporate accumulation continues in the background.
DISCLAIMER:&nbsp;The information on<a href="https://coincu.com/" rel="noopener noreferrer nofollow">&nbsp;this website</a>&nbsp;is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. <a href="https://coincu.com/?p=395514" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

ETH Struggles Below $2K as NUPL Signals Losses

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