Ethereum Price Analysis for Feb 19: Here Are Levels Holding ETH From a Meaningful Surge

Ethereum remains under bearish pressure on the daily chart, with traders watching whether resistance breaks and momentum improves after recent liquidations.

Ethereum ($ETH) is trading at $1,967.04, down 1.6% over the last 24 hours, with price action reflecting a choppy session that ultimately tilted bearish. The 24-hour range runs from a low of $1,927.71 to a high of $2,030.77, showing a fairly wide intraday swing as $ETH briefly pushed above the $2K area before sliding back toward the mid-range.

On the activity side, $ETH shows 24-hour trading volume at $22.48B, alongside a market cap of $237.34B. Performance tiles also indicate $ETH is down 0.4% in 1 hour, up 0.1% over 7 days, down 6.7% over 14 days, and down 38.0% over 30 days. This performance leaves traders cautious, with attention shifting to whether $ETH can reclaim intraday resistance at $2,000.

Can Ethereum Test $2,000 Again?

On a technical view, Ethereum remains under broader bearish pressure on the daily chart, with price trading well below both the 50-day EMA at $2,512 and the 100-day EMA at $2,834. These moving averages are sloping downward, reinforcing the prevailing downtrend and acting as dynamic resistance zones on any recovery attempt.

Ethereum 1D Chart

Immediate horizontal resistance now sits near the $2,100–$2,200 region, while stronger overhead pressure remains around the 50-day EMA. On the downside, recent price action shows support forming around the $1,825 area, with a deeper support zone near $1,750, where buyers previously stepped in aggressively.

The True Strength Index (TSI) currently prints around -34 for the main line and -35 for the signal line, both positioned well below the zero level. This reflects sustained bearish momentum, although the lines appear to be flattening slightly, suggesting that downside momentum may be stabilizing.

A bullish signal would require a crossover above the signal line and a move back toward the zero axis, while continued rejection below zero would confirm that sellers still control the trend.

Ethereum Liquidation Data

Ethereum’s liquidation data shows a sharp imbalance developing over the higher timeframes, with total liquidations reaching $60.24 million in the past 24 hours. Of that amount, long positions account for $42.68 million, significantly outweighing the $17.56 million in short liquidations.

$ETH Liquidation

In the shorter timeframes, the 12-hour liquidations stand at $19.89 million, again dominated by longs at $16.51 million compared to $3.37 million in shorts. However, in the 1-hour and 4-hour windows, liquidations appear more balanced, with slightly higher short liquidations in both periods. The 4-hour data shows $1.38 million total liquidations, with $775.85K in shorts versus $606.36K in longs, indicating brief short squeezes amid broader long-side pressure.

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