Ethereum has staged a significant recovery, breaking back above the psychologically critical $2,000 mark. The second-largest cryptocurrency reached an intraday high of $2,090 on Saturday, February 14, 2026, marking a sharp rebound from a low of $1,895 on February 12. This price surge has flipped a massive whale position from a substantial loss into a notable profit.
A whale associated with Matrixport, tracked via wallets 0x6C85 and 0xa5B0, held a long position of 105,000 ETH (worth approximately $215 million). When Ethereum's price dipped to $1,901, this position was underwater, facing a loss of over $10 million. The subsequent rally above $2,000, however, turned that loss into a profit exceeding $1 million. The whale's entry point was around $2,048 per ETH.
Analysts point to a favorable macroeconomic backdrop as a key catalyst. A recent Consumer Price Index (CPI) report showed a 2.4% year-over-year increase for January, which was lower than expected, stoking hopes for potential interest rate cuts from the Federal Reserve and boosting overall market confidence.
From a technical perspective, the reclaim of $2,000 represents a short-term structural shift. Ethereum is now testing immediate resistance between $2,120 and $2,160, with analysts like Ted Pillows suggesting that a break above $2,100 could open the path toward the $2,300 to $2,400 range. However, the broader trend remains corrective, with the price still trading well below key moving averages like the 50-day SMA at $2,806 and the 200-day SMA at $3,299.
As of the latest data, Ethereum is trading at $2,033, up 7.15% in the last 24 hours. The market's Fear & Greed Index sits at an 'Extreme Fear' level of 9, indicating fragile sentiment that has historically coincided with potential reflex rallies. The next 48-72 hours will be crucial in determining if this move develops into a sustained recovery or remains a bounce within a larger downtrend.
