Ethereum Price Forecast: Leading ETH Investors Face $7.6B Paper Loss as Value Drops Under $2,400

The Ethereum price forecast indicates that ongoing downward pressure is revealing the extent of losses among some of Ether’s leading bullish positions.

As ETH has plummeted 19% over the last three days, dropping below the $2,400 mark, on-chain analytics reveal that several prominent investors who aggressively bought near the cycle’s peak are now collectively facing around $7.6 billion in unrealized losses.

This situation prompts critical inquiries regarding whether the current decline is merely a temporary adjustment or signifies a reversal into a bearish trend.

Tom Lee’s Fundstrat Suffering $6.8B Loss on ETH Holdings

Among the most significant positions is that of Fundstrat chairman Tom Lee, whose organization is reported to have acquired over 4.24 million ETH at an average price close to $3,854.

Here are the top 3 #Ethereum bulls — all facing substantial losses. pic.twitter.com/0dUI3n2bPv

— Lookonchain (@lookonchain) February 2, 2026

At the present market rates, this results in a theoretical loss of approximately $6.8 billion.

Meanwhile, trader Garrett Jin, linked with BitcoinOG, has faced significant setbacks following a substantial BTC-to-ETH conversion and subsequent leveraged exposure.

On-chain data indicates that Jin exchanged 35,991 BTC for 886,371 ETH, incurring losses exceeding $770 million.

A long position of 223,340 ETH was later liquidated, resulting in an additional loss of $195 million.

Compounding the difficulties, Trend Research’s Jack Yi is estimated to be down around $680 million after purchasing 651,000 ETH at an average price near $3,300.

Source: Arkham Intelligence

Despite the escalating losses, whale activity suggests the market is split between conviction buying and enforced risk reduction.

On-chain information from Lookonchain indicates that Tom Lee’s Fundstrat-related entity has continued its accumulation during the downturn, securing an additional 41,788 ETH valued at approximately $96.95 million during the decline.

Technical Analysis: Recovery Rally Aiming for $2,700–$2,800 Resistance

The daily Ethereum chart illustrates that ETH decisively fell from the $2,800 resistance zone and is currently responding around the $2,300–$2,400 area, which is a crucial long-term support level.

From a trend and structure perspective, Ethereum remains beneath all significant moving averages, with the 20-day, 50-day, 100-day, and 200-day EMAs stacked bearishly overhead.

Source: TradingView

This confirms that the broader medium-term trend is still corrective, and upward movements are likely to meet resistance rather than quickly evolving into sustained rallies.

However, the response from the $2,400 support holds technical importance. As long as this zone remains intact on a daily closing basis, the current movement may be viewed as a higher-timeframe pullback rather than a full trend reversal.

A relief bounce towards $2,700–$2,800 is conceivable, but that region now constitutes significant resistance and must be reclaimed with robust volume to shift momentum.

A confirmed breakout above $2,800 would pave the way for movement towards the $3,200–$3,400 range, where upper moving averages and previous supply converge.

On the downside, failing to uphold the $2,400 support would considerably weaken the structure and expose Ethereum to a deeper decline towards the next major support near $1,800.

ETH Down 19%—But This Memecoin Presale Just Reached $4.5M

If ETH regains the $2,800 level and resumes a bullish trend, presale projects such as Maxi Doge (MAXI) could lure funds from investors seeking high-return opportunities in the growing memecoin market.

Maxi Doge represents an emerging memecoin following the Dogecoin model, which generated over 10x returns during the 2023-2024 breakout cycle.

The presale has established an alpha channel that allows traders to exchange strategies and ideas, reflecting community-building tactics from the early Dogecoin days that fostered engaged holder communities.

The MAXI presale has raised over $4.5 million, providing participants with 70% annual staking rewards at the current price of $0.0002801.

Interested investors can participate by visiting the official Maxi Doge website and connecting a crypto wallet like Best Wallet.

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