Ethereum Falls to $2,000 But New Price Prediction Targets $7,500 by End-2026

Ethereum
price tumbled 3% on Monday, February 9, 2026, trading at $2,028 and
edging dangerously close to the psychologically critical $2,000 level.
This selloff comes despite bullish institutional ETH price forecasts from major
banks like Standard Chartered and Citi, creating a stark disconnect between
long-term predictions and current market realities.

In this
article I am answering a question of why Ethereum price is going down today and
how low it can go according to my technical analysis of ETH/USDT chart.
Moreover, I am examining the newest ETH price forecasts from the biggest investment
banks. You can follow me on X for more crypto and metals technical analysis.

Ethereum Price Predictions
2026

Standard Chartered’s
Aggressive $7,500 Target

Standard
Chartered has
emerged as the most bullish major financial institution on Ethereum, with
Geoffrey Kendrick, Global Head of Digital Assets Research, declaring 2026
as “the year of Ethereum”. The bank’s revised forecast sets
a $7,500 target for end-2026, with extended projections
reaching $15,000 in 2027, $22,000 in 2028, $30,000 in 2029, and $40,000
by 2030.

The
London-based bank cites several catalysts supporting this aggressive
outlook: Ethereum’s dominance in stablecoins and DeFi,
institutional accumulation (firms like Bitmine Immersion now hold 3.4% of
circulating ether), and the anticipated Fusaka network upgrade.
Standard Chartered analysts also linked technical improvements to an even more
aggressive $12,000 price target, contingent on successful
implementation of Vitalik Buterin’s roadmap for a 10x increase in
Ethereum’s Layer 1 throughput by 2026.

The bank’s
confidence partially stems from pending U.S. regulatory clarity, particularly
the Clarity Act, which underwent Senate review in mid-January with
potential passage expected in Q1 2026. However, recent market
volatility has tested these optimistic scenarios.

Citi and Traditional
Finance Join the Bull Camp

Citi has issued a forecast
predicting Ethereum would reach $5,440 within 12 months, citing
rising investor demand and sustained ETF inflows. The bank’s analysts wrote
that they anticipate “modest upside into year-end, with further gains
expected next year due to investor demand.”

Traditional
finance institutions have coalesced around conservative but bullish
targets in the $6,500-$7,500 range, highlighting aggressive accumulation by
corporate treasuries and spot ETFs. These institutional vehicles have acquired
approximately 3.8% of all Ether in circulation since June 2025.
Treasury firms alone purchased around 2.3 million ETH in just
over two months, nearly double the pace seen in comparable Bitcoin accumulation
phases.

Earlier
institutional forecasts from September 2025 targeted $5,200 for Ethereum by
Q1 2026, driven by Federal Reserve rate cuts and liquidity expansion. Those
projections now appear overly optimistic given current price action.

ETH Technical Analysis:
Bears Control the Chart

My
technical analysis paints a starkly different picture from institutional
bullishness. Bears currently dominate the Ethereum chart, and I’ve
identified three distinct downside targets for the coming
weeks and months.

Short-Term Target: $1,760

The first
near-term target sits at $1,760, matching 2026’s year-to-date lows and
coinciding with May 2025 minimums. Sunday’s bearish pin bar below the
local resistance at $2,100 signals we should head toward this level
soon. This represents approximately 33% downside from current levels.

Medium-Term Target: $1,400

The second
target lies around $1,400, corresponding to April 2025 lows. Bitcoin has
already tested these depths, but Ethereum hasn’t yet revisited these
levels—making it only a matter of time. While I would anticipate a bounce
from this zone, Bitcoin’s chart accelerated much more aggressively before
deciding to reverse. This level represents 47% downside from Monday’s
price.

Long-Term Bearish
Scenario: $1,000

In a more
bearish long-term scenario, I wouldn’t rule out a decline to the psychologically
round $1,000 level—the lowest prices since November 2022. Significantly,
this area also aligns with the 100% Fibonacci extension measured on the
downtrend from near-$5,000 peaks in August 2025. This catastrophic scenario
would erase virtually all gains achieved since late 2022.

Similar
bearish technical patterns emerged in November 2025, when death cross formations signaled
potential declines to $1,370-$1,500 range.

Vitalik’s Austerity Sparks
Concerns

Paul
Howard, Director at Wincent, contextualizes Ethereum’s price weakness within broader risk market
dynamics: “ETH’s price move is indicative of what we see in global risk
markets and compounded by rumours Buterin’s Ethereum Foundation is ‘entering a
period of mild austerity’ over the next five years to achieve its goals.”

Howard
references Vitalik Buterin’s January 30 announcement: “For this reason, I
have just withdrawn 16,384 ETH, which will be deployed toward these
goals over the next few years.” On-chain analysis shows only about 3,000
ETH has been sold, but this move has “no doubt spooked ETH buyers into
a ‘wait and see’ mode and given the options market a free lunch on Tom
Lee.”

The
market’s reaction to Buterin’s withdrawal highlights investor sensitivity to
any perceived weakness in Ethereum’s financial position—even when the
withdrawal represents a tiny fraction of circulating supply.

Market Stabilization After
Extreme Fear

Joel
Kruger, crypto strategist at LMAX, offers a more balanced perspective: “The crypto market has
stabilized following last week’s sharp selloff, which had pushed the crypto
fear and greed index to extreme fear levels.”

Kruger
notes that after Bitcoin retraced more than 50% from its October record
high, “price action has moderated, with signs of consolidation
emerging as forced liquidation pressures ease. The market appears to be
transitioning from a disorderly de-risking phase toward a more selective,
two-way environment.”

From a
positioning perspective, Kruger observes that “the depth of the correction
is beginning to attract interest from medium- and longer-term investors looking
to add exposure on weakness.” This suggests accumulation may be
occurring beneath the surface panic, potentially supporting institutional
price targets on longer timeframes.

This
stabilization follows extreme volatility in early February 2026, when crypto markets plunged to
2026 lows across major assets.

Historical Context:
February’s Make-or-Break Month

Ethereum
entered February 2026 at a critical juncture after losing nearly 7% in
January—contrasting sharply with its historical median January return
of +32%. February historically delivers median gains around +15%
since 2016, making this month crucial for confirming trend direction.

Key
technical levels to watch include support near $2,690 and upside
resistance at $3,000 and $3,340. The failure to hold $2,690 on Monday’s
session validates the bearish case outlined in my technical analysis.

Previous
Ethereum price predictions from mid-2025 targeted $16,700 by 2026 based
on ascending triangle patterns and institutional demand—forecasts that now
appear wildly optimistic given current market conditions.

Analysis from
January 2026 questioned whether this would be the year Ethereum outperforms
Bitcoin, noting
that by 2026, Bitcoin and Ethereum moved together about 70-90% of the
time.

Ethereum Price Prediction Table

However, technical
momentum remains firmly bearish, and until Ethereum reclaims the $3,000
psychological level, bears maintain control. Previous
analysis from August 2025 showed similar technical setups leading to $10,000-$15,000
targets driven by AI adoption and Wall Street blockchain integration, targets
that now appear disconnected from market reality.

This article was written by Damian Chmiel at www.financemagnates.com.

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