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Ethereum is holding above the $2,000 level as the market enters a consolidation phase following several days of intense selling pressure that forced prices sharply lower. While volatility has eased slightly, sentiment remains fragile as investors assess whether the recent decline represents a temporary correction or the early stage of a broader bearish cycle. Against this backdrop, new on-chain data is drawing attention to an unusual divergence between price behavior and network activity. Related Reading: Bitcoin At $65K: Market Cycle Indicator Points To Possible Bottom Zone A recent CryptoQuant report highlights that the Ethereum network is experiencing a substantial increase in token transfers even as prices struggle to recover. According to the analysis, as Ethereum corrected from roughly $3,000 down to the $2,000 region, on-chain activity accelerated rather than declined. Specifically, the 14-day moving average of total tokens transferred surged from about 1.6 million on January 29 to approximately 2.75 million by February 7. This represents the highest level observed since August 2025. Such a rapid rise in transfer volume during a price downturn often signals heightened stress in the market. It can reflect repositioning, forced liquidations, or large-scale portfolio adjustments. Although not a definitive capitulation signal on its own, the data suggests that underlying market dynamics remain tense, making the coming sessions particularly important for confirming Ethereum’s next directional move. Transfer Activity Signals Stress Rather Than Immediate Recovery The report indicates that the recent spike in ERC-20 token transfers reflects elevated stress conditions rather than organic network growth. During sharp price declines, increased token movement typically suggests panic-driven repositioning. Investors often rotate from volatile assets into stablecoins or move funds toward exchanges, preparing for liquidation or defensive portfolio adjustments. This behavioral shift tends to amplify short-term volatility and reinforces downward momentum. From a historical perspective, abrupt surges in transfer velocity during bearish phases frequently coincide with capitulation dynamics. Rapid increases in on-chain activity can signal that weaker market participants are exiting positions under pressure. Such “flush” phases compress selling into a short window, allowing the market to absorb excess supply more quickly than during gradual declines. Part of the current activity likely originates from decentralized finance mechanisms. Because the metric tracks token transfers broadly, a share of the increase probably reflects forced liquidations, collateral rebalancing, and automated risk management processes across DeFi lending and derivatives protocols. These cascades can intensify price swings even without new fundamental catalysts. Sentiment appears dominated by caution. Historically, when token transfer activity spikes sharply during downtrends, it sometimes precedes stabilization phases. While not a definitive bottom signal, this pattern often suggests that intense selling pressure may be approaching exhaustion. Related Reading: Binance SAFU Fund Adds 3,600 Bitcoin ($233M) As Market Faces Pressure Ethereum Tests Key Support As Momentum Weakens Ethereum’s weekly chart shows sustained downside pressure after failing to hold the $3,000 region, with price now hovering just above the $2,000 level. This zone has become a critical psychological and structural support, especially as recent candles reflect increasing volatility and sharp rejection from higher levels. The market appears to be transitioning from a corrective pullback into a broader consolidation phase, though downside risks remain evident. Technically, ETH is trading below major moving averages, with shorter-term averages trending downward and beginning to cross beneath longer-term ones. This configuration typically signals weakening momentum and suggests that buyers have not yet regained control. The 200-week moving average, currently near the mid-$2,000 range, may act as a pivotal reference level. Sustained trading below it would likely reinforce bearish sentiment. Related Reading: Bitcoin Short-Term Holders Deep In Loss: MVRV Signals Capitulation Phase Recent spikes in selling volume correspond with rapid price declines, indicating distribution rather than accumulation. Historically, such volume expansions during downtrends often precede either capitulation lows or extended sideways consolidation. From a structural standpoint, reclaiming the $2,400–$2,600 range would be necessary to stabilize momentum. Conversely, a decisive break below $2,000 could expose lower historical support zones, potentially accelerating volatility as leveraged positions unwind further. Featured image from ChatGPT, chart from TradingView.com 

The cryptocurrency industry went under intense pressure last week, with Bitcoin and Ethereum leading the crash and multiple cryptocurrencies hitting new multi-month lows. The crash was more pronounced with Bitcoin, though, and the imbalance in selling pressure is quietly shifting the relationship between the two assets.  The interesting imbalance is relayed in Ethereum’s performance relative to Bitcoin. A technical analysis of the ETH/BTC ratio shared on the social media platform X by Jonathan Carter indicates that Ethereum may be approaching a critical breakout point against Bitcoin, following an extended period of compression on the 2-week candlestick timeframe chart. Long-Term Triangle On The Verge Of Break According to technical analysis of the ETH/BTC 2-week chart, Ethereum is nearing an important point against Bitcoin after years of consolidation beneath a descending trendline. This long-running pattern originates from a major peak in relative valuation in July 2017, when 1 ETH was worth 0.154 BTC in Bitcoin terms, and has since formed a series of lower highs to form a falling resistance trendline. The lower boundary of this pattern is a long-tested support zone around 0.02 that has repeatedly drawn buying interest for Ethereum in relation to Bitcoin. Related Reading: Ethereum Price Is Not Going To Keep Falling Forever, Analyst Says At the time of writing, the ETH/BTC ratio is trading around 0.030. However, the most recent 2-week candlestick has flipped green, and this development is important to the bullish outlook of Ethereum’s performance against Bitcoin. The bullish projection is based on a full playout of the green candlestick with a push towards the descending triangle’s resistance trendline. If the pair can convincingly break above the descending triangle’s upper trend boundary with sustained momentum, then this would allow Ethereum to enter a phase of sustained outperformance against Bitcoin. How High Could ETH/BTC Go If A Breakout Happens? Crypto analyst Jonathan Carter outlined a series of potential upside targets should the ETH/BTC pair break free from its downward trend. The first target is around 0.040 BTC, which would represent a clear departure from the compressed range seen across recent months. If momentum continues, higher potential objectives include 0.060, 0.085, 0.105, 0.124, and all the way up to the 2017 peak of 0.154. Related Reading: Here’s Why The Bitcoin And Ethereum Prices Are Still Trading Sideways Translating these ratio-based targets into absolute price levels is less straightforward, as the projections are based on Ethereum’s performance relative to Bitcoin and not standalone price moves. Such a performance can happen in two major ways: either Ethereum receives more inflows than Bitcoin, or Bitcoin could crash more than Ethereum during a market-wide correction. The former scenario would most likely translate into a sustained rotation into Ethereum and the wider altcoin market, setting the stage for an altcoin season. Nonetheless, both scenarios will see the otherwise strong Bitcoin dominance dropping massively. Featured image from Pixabay, chart from Tradingview.com

Ethereum price started a recovery wave above $2,000. ETH is now consolidating and eyeing an upside break above the $2,120 resistance. Ethereum managed to stay above $1,880 and recovered some losses. The price is trading below $2,120 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,200 zone. Ethereum Price Faces Resistance Ethereum price managed to form a base above $1,880 and started a recovery wave, like Bitcoin. ETH price traded above the $1,950 and $1,980 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $2,340 swing high to the $1,745 low. The bulls even pushed the price above $2,050. However, they are facing hurdles near the $2,120 zone. There is also a major bearish trend line forming with resistance at $2,110 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,100 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,000, the price could attempt another increase. Immediate resistance is seen near the $2,110 level and the trend line. The first key resistance is near the $2,200 level and the 76.4% Fib retracement level of the downward move from the $2,340 swing high to the $1,745 low. The next major resistance is near the $2,240 level. A clear move above the $2,240 resistance might send the price toward the $2,350 resistance. An upside break above the $2,350 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,665 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,110 resistance, it could start a fresh decline. Initial support on the downside is near the $2,040 level. The first major support sits near the $2,000 zone. A clear move below the $2,000 support might push the price toward the $1,880 support. Any more losses might send the price toward the $1,750 region. The main support could be $1,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,000 Major Resistance Level – $2,200

Ethereum (ETH) has declined noticeably over the past week, with price data from CoinMarketCap reporting a net 14% decline within this period. At the time of the most recent data, ETH is trading around $2,000, significantly lower than the past week’s level near $2,500. Related Reading: Ethereum Price Is Not Going To Keep Falling Forever, Analyst Says ETH Funding Rates Signal A Bullish Turn In a QuickTake post on the CryptoQuant platform, analyst Amr Taha draws attention to recent developments in ETH funding rates, a key sentiment indicator in perpetual futures. The funding rate shows the market sentiment, whether it’s optimistic/greedy (positive) or fearful/cautious (negative). Typically, when funding is highly positive or negative, it means that too many traders are on one side, positions are overleveraged, and then the market becomes unstable. At that point, even a small price move in the opposite direction can trigger liquidations, causing sharp and fast price moves. Although Ethereum’s funding rate was deeply negative over the week, analyst Amr Taha noted there has been a flip as ETH derivatives data shows a clear shift toward bullish positioning. Notably, Funding rates have turned strongly positive on BitMEX (Bitcoin Mercantile Exchange), reaching 0.049%, their highest level since October and well above the previous peak near 0.03. This signals aggressive leverage on the long side. Related Reading: XRP Price Has Just Reached Most Oversold Level In History And This Analyst Is Predicting A Bounce Extreme Optimism In ETH Could Spark Sharp Moves At the same time, ETH funding on Binance has moved from deeply negative levels at -0.025% on February 5 back towards neutral, indicating that short positions are being replaced by new long exposure. In essence, the market has moved from fear to optimism. While this shift reflects a rise in bullish sentiments, history shows that periods of extreme positive funding driven by leverage often increase the risk of liquidations and sharp corrective moves, rather than supporting sustained upside. In short, when everyone is bullish at the same time, the market becomes easier to knock over. In all, Ethereum Derivatives traders have become aggressively bullish, and while that can push price higher in the short term, history shows it often increases the risk of sudden corrective moves rather than a sustained uptrend. At the time of writing, Ethereum trades at $2,089 after a 14.9% decline in the past seven days. Meanwhile, the daily trading volume is down by 32.39% and valued at $37.39 billion. Featured image from Adobe Stock, chart from Tradingview

Ethereum is quietly setting up for a potentially decisive move as the Libra formation remains active on the weekly chart. While confirmation is still pending, the structure has not been invalidated, keeping the upside scenario firmly on the table. With key resistance levels overhead and momentum beginning to stabilize, ETH may be entering a critical phase where the next major directional move starts to take shape. Weekly Libra Formation Keeps The Bullish Case Alive On the X platform, Kamile Uray highlighted that Ethereum is currently forming a Libra pattern on the weekly chart. With the weekly candle yet to close and no invalidation so far, the bullish formation remains active and continues to be a valid scenario. Related Reading: Ethereum Bulls Must Conquer $3,050 Or Momentum Quickly Fades According to the update, confirmation of a reversal would open the door for a move toward the $4,956 high, but the price may face notable resistance along the way, particularly around the $3,445 level. Kamile Uray noted that a daily close above $2,475 would serve as the first technical signal that upside momentum is strengthening and that the recovery could continue. Failure to sustain movement above this area could delay further progress and keep the price vulnerable to pullbacks. Since the Libra formation is developing on the weekly timeframe, the pattern would only be considered invalid if Ethereum breaks below the $1,388 low, underscoring the broader, long-term nature of the setup. Ethereum Stretches Higher At $2,086 After A Sharp 22% Run According to Can Özsüer, Ethereum is currently trading around $2,086, marking a strong rally from the $1,730 area. From that level to the current price, ETH has surged roughly 22% without a meaningful correction, which increases the likelihood of short-term profit-taking. After such a sharp move, light selling pressure typically emerges as the market cools off. Related Reading: Analyst Says You’re Not Bullish Enough On Ethereum – What Does He Mean? Can Özsüer notes that any selling from this region is expected to remain controlled rather than aggressive. The ideal pullback zone lies between $1,950 and $2,000, where the price could reset without damaging the broader bullish structure. A dip into this range would be considered healthy and could set the stage for the next leg higher. Once that corrective move plays out, the next upside objective comes in around the $2,200 level. However, if price pushes straight toward the target without offering a pullback, the strategy would need adjustment. In that scenario, chasing a long position becomes less attractive, as a stronger selling wave could follow once the target is reached. If a correction does materialize, Can Özsüer suggests that a long position on the pullback would be the preferred approach. Featured image from Pixabay, chart from Tradingview.com

Recent on-chain data has shown that Vitalik Buterin’s withdrawal of 16,384 Ethereum has sparked renewed debate around the ETH distribution and founder intent. While large wallet movements often trigger speculation, this transfer aligns with a long-standing reality of the ETH development model, and the network is largely self-funded by its founders and ecosystem contributors. Ethereum founder Vitalik Buterin’s recent withdrawal and sale of 16,384 ETH was not a market signal, but a deliberate funding decision. The Ethereum Daily revealed on X that the ETH was withdrawn to personally finance open-source initiatives aimed at building a secure, verifiable, and open full stack of software and hardware. How This Impacts ETH’s Supply And Market Perception These efforts span a wide range of critical technologies, including privacy-preserving systems. Examples are zero-knowledge proofs (ZK), fully homomorphic encryption (FHE), and differential privacy, as well as secure hardware, encrypted messaging apps, local-first software, opening systems, finance, communication, governance tools, and even biotech and public health research. Related Reading: Ethereum Active Addresses Near All-Time High Despite Price Plunge Vitalik framed this move within the broader context of the ETH Foundation’s strategy to reduce costs and refocus basics to ensure long-term stability. At the same time, they’re pushing ETH forward with improved scaling and greater decentralization, and offering users full control over their data and assets. According to Materkel, an Ethereum decentralization maxi, the statement, “the last five years were a mistake” from some former ETH maximalists, was a complete misconception. ETH is actively transitioning into a rollup-centric architecture, which means the last several years of research and development were not wasted.  ETH is profiting from every second of effort invested in research and the work surrounding rollups, particularly in areas like ZKVMs, which would not be nearly where they are today without the ETH rollup-centric roadmap. As outlined in Vitalik Buterin’s early writings, this trajectory was always the intended endgame for Layer 1 scaling. The alternative approaches would have been a subpar solution.  Related Reading: Ethereum Faces High-Stakes Moment at $2,200 as Whale Longs Clash With Bearish Flow Data Currently, ETH has reached the point where it can unify the rollup ecosystem through native rollups and synchronous composability. However, the rollups remain the future of scaling, and ETH is positioned to serve as their primary issuance and settlement layer and security anchor, at the heart of the robust ecosystem. Ethereum As The Operating System Of The Internet Economy The Ether Machine has noted that Ethereum functions as the operating system for a new internet-native economy. Rather than existing solely as a digital asset, ETH operates as a self-sustaining economic system where applications drive demand, network activity generates fees that capture value, and staking provides the security that powers global financial settlement. Featured image from Getty Images, chart from Tradingview.com

Ethereum (ETH) has continued to decline alongside the rest of the crypto market, dropping over 9% in the daily timeframe and reaching new lows. As the cryptocurrency loses a “do-or-die” level, some analysts have expressed concern about ETH’s near-term future. Related Reading: Solana Eyes Deeper Correction As Bearish Pattern Confirmation Targets $40 Ethereum Correction Targets $1,500 On Thursday, Ethereum, the second-largest cryptocurrency by market capitalization, reached an eight-month low of $1,934 after dropping below the psychological $2,000 barrier for the first time since May. The cryptocurrency has traded between $2,100 and $4,400 over the past two years, moving between the upper and lower boundaries of its macro range throughout the cycle and only losing its crucial support during the Q1-Q2 2025 market correction. In the past five months, ETH’s price has declined by over 60% from its August all-time high (ATH) of $4,956, raising concerns about the cryptocurrency’s short- and mid-term performance. In an X post, market observer Daan Crypto Trades stated that the “overall price action has been awful this cycle, but the levels have been very clean” on Ethereum’s chart. “These horizontal areas are all you need to be watching for the Ethereum price, in my opinion,” he wrote. “Break one, target the next. Works both ways, obviously.” Based on this, the trader highlighted the lower half of the altcoin’s macro range, where it has been trading for half of the cycle. If Ethereum is unable to reclaim $2,000-$2,100 soon, then the price would likely retest the $1,800 area. “That’s the breakout level from before the large rally driven primarily by Tom Lee/Bitmine,” he pointed out. Similarly, Altcoin Sherpa suggested that Ethereum is in a similar “do-or-die region” like Bitcoin (BTC). To the analyst, ETH’s chart “looks bleak” after losing the 200-Week Exponential Moving Average (EMA), adding that if it officially loses the $2,000 barrier, the altcoin will likely move to the April 2025 lows, located around the $1,400-$1,500 range. ETH Crash Drags Investors Notably, Ethereum liquidations, funds, and large-scale investors have taken a hit amid the recent price action. According to online reports, the unrealized losses of BitMine, the second-largest crypto treasury in the world, have significantly grown over the last couple of days. As reported by NewsBTC, the crypto treasury company’s unrealized losses had risen to $6.6 billion by Monday, leaving the Ethereum treasury company “on track to become the 5th-largest documented principal trading loss in history if sold.” In BitMine’s latest update, the firm’s chairman, Tom Lee, reiterated BitMine’s confidence in the cryptocurrency and its fundamentals despite the recent price action and broader market correction. “We view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance,” Lee asserted. Nonetheless, Ethereum’s drop below $2,000 has pushed BitMine’s unrealized losses to over $8 billion. Related Reading: BNB Chain Metrics Show Strong Performance As BNB Price Retests ‘Do Or Die’ Level Spot ETH exchange-traded funds (ETFs) also performed negatively over the past day, with the category bleeding nearly $80 million on Wednesday, and total net outflows of $68 million during the first three trading days of the week. Meanwhile, Ethereum liquidations have hit $326.6 million over the past 24 hours, according to CoinGlass data. The data shows that around $245.5 million comes from long ETH positions, with nearly half of the total value wiped out just in the last four hours. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum has faced intense selling pressure in recent sessions, with price action struggling to stabilize as broader market weakness persists. The asset has revisited the $2,100 zone, a level now being closely monitored by traders attempting to identify potential demand. Despite occasional relief bounces, momentum remains fragile, reflecting ongoing uncertainty across both derivatives and spot markets. Related Reading: Are We Near A Bitcoin Bear Market Bottom? History Offers A Framework A recent CryptoQuant report highlights a notable shift in investor behavior, particularly among US-based participants. The Ethereum Coinbase Premium Index, measured on a 30-day moving average, has dropped to its lowest level since July 2022. This metric compares ETH pricing on Coinbase—often considered a proxy for U.S. institutional flows—against global exchange benchmarks such as Binance. Sustained negative readings typically indicate stronger selling pressure from US entities relative to the broader market. This development suggests that institutional demand may currently be subdued, with some investors reducing exposure amid volatile macro conditions and declining crypto risk appetite. Historically, such deep negative premiums have appeared during periods of market stress, sometimes preceding stabilization phases, though not consistently signaling immediate bottoms. Coinbase Premium Signals Weak Institutional Demand The report notes that the last time the Ethereum Coinbase Premium 30-day moving average reached similarly negative territory was during the deepest phase of the 2022 bear market. Such readings historically reflect a material imbalance between US and global demand, with American investors either actively reducing exposure or remaining on the sidelines. Given the importance of US institutional flows in past crypto rallies, this absence of demand could limit the probability of a sustained near-term recovery. At the same time, the signal is not purely bearish. Extreme negative premiums have often appeared during capitulation phases, when aggressive sellers exhaust available supply. Under those conditions, the market can stabilize as selling pressure fades, even before new inflows fully materialize. This dynamic makes the indicator context-dependent rather than a standalone directional signal. From a technical standpoint, the $2,100 level now carries clear psychological and structural significance. Holding this zone would suggest that demand is beginning to absorb supply despite negative sentiment. However, a durable trend reversal typically requires confirmation from spot demand metrics. A normalization—or eventual return to positive territory—in the Coinbase Premium would indicate renewed institutional participation. Related Reading: Ethereum Transfer Surge Mirrors 2018 And 2021 Peaks – What Happens Next? Ethereum Tests Critical Support As Downtrend Intensifies Ethereum price action on this daily chart reflects a clear deterioration in market structure following the rejection from the $4,000–$4,800 distribution zone seen in late 2025. Since then, ETH has transitioned into a sustained downtrend characterized by lower highs, persistent selling pressure, and repeated failures to reclaim key moving averages. The most recent breakdown below the $2,300 region accelerated bearish momentum, with price now testing the psychological $2,100 support area. This level carries technical relevance because it previously acted as a consolidation zone during earlier phases of the cycle. However, the sharp decline toward it, combined with rising sell-side volume, suggests that market participants are still in risk-reduction mode rather than accumulation. Related Reading: Bitcoin Unrealized Losses Reach 22% – Still No Capitulation Phase Moving averages reinforce the bearish bias. The short-term average has crossed below the medium-term line, while the price remains well under the long-term trend indicator. This confirms structural weakness. Unless ETH can quickly reclaim the $2,400–$2,600 range, rallies are likely to be viewed as relief bounces rather than trend reversals. If $2,100 fails decisively, the next meaningful support could emerge closer to the $1,800–$1,900 zone, where historical demand previously stabilized price action. Featured image from ChatGPT, chart from TradingView.com 

Ethereum price extended its decline below $2,000 and $1,950. ETH is now attempting to recover from $1,750 but faces many hurdles near $2,200. Ethereum failed to stay above $2,000 and started a fresh decline. The price is trading below $2,000 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,200 zone. Ethereum Price Dips Over 15% Ethereum price failed to remain stable above $2,200 and extended losses, like Bitcoin. ETH price traded below $2,000 to enter a bearish zone. The bears even pushed the price below $1,880. A low was formed at $1,744 and the price is now attempting to recover. There was a move above $1,850. The price surpassed the 23.6% Fib retracement level of the downward move from the $2,341 swing high to the $1,744 low. Ethereum price is now trading below $2,000 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,800, the price could attempt another increase. Immediate resistance is seen near the $1,950 level. The first key resistance is near the $2,050 level and the 50% Fib retracement level of the downward move from the $2,341 swing high to the $1,744 low. The next major resistance is near the $2,200 level. There is also a major bearish trend line forming with resistance at $2,200 on the hourly chart of ETH/USD. A clear move above the $2,200 resistance might send the price toward the $2,350 resistance. An upside break above the $2,350 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,665 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,050 resistance, it could start a fresh decline. Initial support on the downside is near the $1,850 level. The first major support sits near the $1,800 zone. A clear move below the $1,800 support might push the price toward the $1,750 support. Any more losses might send the price toward the $1,720 region. The main support could be $1,680. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,850 Major Resistance Level – $2,200

Ethereum remains under heavy pressure, struggling to hold above the $2,300 level as selling dominates across the broader crypto market. After weeks of weakening structure, price action has failed to attract sustained demand, prompting many analysts to warn that further downside may still lie ahead. With risk appetite fading and leverage being unwound, attention is increasingly shifting from short-term rebounds to signals that could define the next phase of the cycle. Related Reading: Bitcoin Unrealized Losses Reach 22% – Still No Capitulation Phase A recent report from CryptoQuant highlights a notable development on the network side. The Ethereum Transfer Count (Total), smoothed by a 14-day Simple Moving Average, surged sharply to approximately 1.17 million on January 29, 2026. This abrupt and near-vertical rise in activity stands out against recent trends and has historically coincided with periods of heightened market stress rather than organic growth. While elevated network activity is often associated with adoption, sharp spikes of this magnitude tend to emerge during moments of extreme positioning—either distribution into strength or forced movement during volatility. In past cycles, similar transfer count surges appeared near major inflection points, often preceding meaningful price corrections. As Ethereum trades near multi-month lows, this spike raises a critical question for investors: Does the surge in on-chain activity reflect defensive repositioning ahead of another leg down, or is it the final phase of a broader reset? The answer may determine whether ETH stabilizes—or extends its decline. Transfer Count Spikes Echo Prior Cycle Turning Points The report explains that a retrospective look at Ethereum’s transfer count reveals a recurring and cautionary pattern. Spikes of the magnitude seen recently have only appeared at a handful of critical turning points in the network’s history. On January 18, 2018, a sharp surge in transfers marked the cycle peak, immediately followed by the start of a prolonged bear market. A similar event occurred on May 19, 2021, when a sudden jump in network activity coincided with a major market crash and a deep price correction. From an on-chain perspective, this context matters. While analysts often associate rising network activity with growing adoption, a parabolic surge in transfer counts near price peaks typically signals an overheated market. These spikes tend to occur during moments of extreme stress or euphoria, when large volumes of assets are moving simultaneously. In practice, this can reflect distribution, as long-term holders or institutional participants move funds toward exchanges to realize profits or peak volatility, where trading activity reaches a climax before momentum reverses. The current setup closely resembles those earlier episodes. Although the broader macro environment has changed since 2018 and 2021, the behavior of network participants appears strikingly similar. If historical patterns hold, Ethereum may be entering a high-risk zone where the probability of further downside increases. Consequently, traders and investors must exercise caution and monitor confirmation signals closely before assuming stability has returned. Related Reading: Bitcoin LTH Profit-Taking Collapses: Is Smart Money Done Selling? Bearish Weekly Structure Signals Ongoing Downside Risk Ethereum’s weekly chart shows a market that has decisively shifted from expansion to distribution. The price is now struggling to stabilize after losing the $2,300–$2,400 support zone. The latest breakdown pushed ETH back toward the $2,200 area, a level that previously acted as a pivot during earlier consolidation phases in 2024 and mid-2025. The inability to hold above this zone reinforces the idea that sellers remain in control on higher timeframes. From a trend perspective, ETH is trading below its short- and medium-term moving averages. Both of which have rolled over and are beginning to slope downward. This configuration typically reflects a loss of upside momentum and signals that traders sell into rallies rather than accumulate on dips. The long-term moving average near the mid-$2,400s has flattened. This suggests that the market is transitioning from trend to range, with downside risk still present. Related Reading: Ethereum Experiences Broad Long Squeeze Across Derivatives Exchanges: Can Bulls Hold $2,300? Elevated volume accompanied the recent sell-off, signaling conviction behind the move rather than a low-liquidity drift. Historically, similar volume spikes during downswings have preceded either deeper drawdowns or prolonged consolidation phases. ETH has also printed a sequence of lower highs since the peak above $4,800, confirming a broader bearish market structure. Unless price can reclaim and hold above the $2,400–$2,500 region, the path of least resistance remains sideways to lower. With the market likely probing for demand at lower support levels before any sustainable recovery can form. Featured image from ChatGPT, chart from TradingView.com 

Ethereum price extended its decline below $2,200 and $2,120. ETH is now attempting to recover from $2,075 but faces many hurdles near $2,220. Ethereum failed to stay above $2,250 and started a fresh decline. The price is trading below $2,200 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,255 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,320 zone. Ethereum Price Dips Further Ethereum price failed to remain stable above $2,250 and extended losses, like Bitcoin. ETH price traded below $2,200 to enter a bearish zone. The bears even pushed the price below $2,120. A low was formed at $2,073 and the price is now attempting to recover. There was a move above $2,120, but the price stayed well below the 23.6% Fib retracement level of the downward move from the $3,040 swing high to the $2,073 low. Ethereum price is now trading below $2,200 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance at $2,255 on the hourly chart of ETH/USD. If the bulls remain in action above $2,100, the price could attempt another increase. Immediate resistance is seen near the $2,200 level. The first key resistance is near the $2,250 level and the trend line. The next major resistance is near the $2,390 level. A clear move above the $2,390 resistance might send the price toward the $2,550 resistance or the 50% Fib retracement level of the downward move from the $3,040 swing high to the $2,073 low. An upside break above the $2,550 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,650 resistance zone or even $2,665 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,250 resistance, it could start a fresh decline. Initial support on the downside is near the $2,100 level. The first major support sits near the $2,075 zone. A clear move below the $2,075 support might push the price toward the $2,050 support. Any more losses might send the price toward the $2,000 region. The main support could be $1,880. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,075 Major Resistance Level – $2,250

Ethereum has seen a sharp sell-off that sent the price straight into a major demand zone near $2,150, which is now acting as the market’s last line of defense. Whether buyers step in here or fail to hold the line could determine if this move becomes a temporary liquidity flush or the start of a deeper trend shift. ETH Loses Key Support As Short-Term Momentum Turns Bearish Michael Van De Poppe noted that Ethereum has slipped below a crucial support zone, signaling increased short-term pressure. On the lower timeframes, price action has turned clearly bearish. However, zooming out to the higher timeframes, the broader structure remains intact, with ETH still trading within a larger uptrend. Related Reading: Ethereum Price Recovery Runs Into A Wall, Decline Risk Returns He pointed out that Ethereum likely marked its cycle low back in April 2025, suggesting the current weakness may be corrective rather than the start of a sustained bearish phase. At this stage, ETH appears to be searching for a higher-timeframe support level that could act as a base for a renewed move to the upside. Van de Poppe highlighted the 0.025–0.0265 BTC region as a key support zone on the ETH/BTC pair. Importantly, the recent correction has already retraced more than half of the move toward this level, increasing the likelihood that demand could step in around that range. On the upside, he added that a recovery above the 0.0325 BTC level. While less likely in the near term, it would be a strong signal that bullish momentum has returned and a continuation of the broader uptrend. Despite ongoing volatility, Van de Poppe remains confident that Ethereum will significantly outperform Bitcoin over time. Thus, he will continue to accumulate ETH at these levels. Sharp Sell-Off Drives Ethereum Into Major Demand Near $2,150 In a more recent update, Dami-DeFi pointed out that Ethereum failed to hold the rising support line near the $2,800 level, which he had previously identified as critical. This breakdown was confirmed on the daily timeframe, triggering a sharp sell-off that pushed the price swiftly into the next major demand zone around $2,150. Related Reading: Analyst Says You’re Not Bullish Enough On Ethereum – What Does He Mean? If buyers manage to defend this level, the recent drop could be interpreted as a liquidity sweep followed by a market reset, rather than the start of a deeper downtrend. In that case, price action would likely shift into a choppy consolidation phase, with ETH rebuilding structure between $2,150 and $2,700. According to Dami-DeFi, a meaningful bullish shift only comes into play if Ethereum can reclaim $2,700 and then establish acceptance above $2,850. Until those levels are recovered and held, any upside attempts are likely to remain corrective, with the market still focused on whether demand can firmly step in at current levels. Featured image from Pxfuel, chart from Tradingview.com

Ethereum price extended its decline below $2,220 and $2,200. ETH is now attempting to recover from $2,000 but faces many hurdles near $2,250. Ethereum failed to stay above $2,300 and started a fresh decline. The price is trading below $2,265 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,350 zone. Ethereum Price Faces Resistance Ethereum price failed to remain stable above $2,320 and extended losses, like Bitcoin. ETH price traded below $2,220 to enter a bearish zone. The bears even pushed the price below $2,200. A low was formed at $2,107 and the price is now attempting to recover. There was a move above $2,220. The price tested the 23.6% Fib retracement level of the downward move from the $3,040 swing high to the $2,107 low. However, the bears are active near $2,265. There is also a major bearish trend line forming with resistance at $2,250 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,265 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,175, the price could attempt another increase. Immediate resistance is seen near the $2,250 level. The first key resistance is near the $2,265 level. The next major resistance is near the $2,460 level. A clear move above the $2,460 resistance might send the price toward the $2,575 resistance or the 50% Fib retracement level of the downward move from the $3,040 swing high to the $2,107 low. An upside break above the $2,575 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,680 resistance zone or even $2,700 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,265 resistance, it could start a fresh decline. Initial support on the downside is near the $2,200 level. The first major support sits near the $2,175 zone. A clear move below the $2,175 support might push the price toward the $2,120 support. Any more losses might send the price toward the $2,050 region. The main support could be $2,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,175 Major Resistance Level – $2,265

BitMine’s chairman, Thomas “Tom” Lee, has weighed in on the potential reasons for the recent crypto market’s performance and why he believes the prices may be near the bottom. Related Reading: Is The Bitcoin Bottom In? CMT Reveals What Investors Need To See Now ‘All Pieces In Place’ For Crypto Market Bottom On Monday, BitMine’s chairman and Fundstrat’s CIO, Tom Lee, discussed the recent market crash that has wiped out around 13% of the crypto market’s total value over the past week. During an interview with CNBC’s Squawk Box, the executive affirmed that the crypto market’s reaction to last week’s correction has been “much worse than expected,” as most cryptocurrencies retraced to eight-month lows. Lee argued that non-fundamental factors are responsible for the violent decline, listing the lack of leverage as one of the main reasons. He explained that leverage has yet to return to the crypto industry, as it “sort of deleveraged in October” and continues to see the ripple effect. He also considers that the precious metals’ massive rally in January has added pressure to the crypto market. “Now, when we have gold and silver doing so well, especially at the start of the year,” he asserted, “that created FOMO and was like a vortex sucking all risk appetite towards the precious metals trade.” BitMine’s chair highlighted recent geopolitical tensions and regulatory uncertainty in the US as factors for the weakening prices. “I think the broader economy’s actually in good shape. So, to me, the turmoil here is (…) there’s a lot of uncertainty because of Washington picking winners and losers. And some of this could be the new Fed pick.” Meanwhile, he stated that crypto fundamentals remain strong despite the recent price action. He expects that as long as fundamentals are good, “all the pieces are in place for crypto to be bottoming right now,” arguing that prices have tapped key support levels and “enough time has passed.” BitMine Bets on Ethereum Fundamentals In BitMine’s latest update, Lee also noted Ethereum’s on-chain activity and fundamentals, affirming that they have grown over the past few months even as the ETH price declined to multi-month lows. “During the crypto winter of 2021-2022 or 2018-2019, Ethereum transaction activity and active wallets declined, which is counter to what we have seen in the past 12 months,” he detailed. As a result, BitMine, the second-largest crypto treasury company in the world, has continued to bet on Ethereum during the recent crypto market price correction. The Monday statement announced that the firm had acquired 41,788 ETH in the past week, worth $110 million at current prices. Moreover, the latest purchase has raised BitMine’s holdings to 4,285,125 ETH, 3.55% of Ethereum’s total supply. Related Reading: Crypto Hacks Explode: $370 Million Stolen In January Alone: Researchers Recent online reports pointed out that the crypto treasury company’s unrealized losses rose to $6.6 billion amid this performance, putting the company “on track to become the 5th-largest documented principal trading loss in history if sold.” Nonetheless, “BitMine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance,” Lee concluded. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum has come under intense selling pressure, recording a sharp 28% decline since last Friday as the price decisively lost the $3,000 psychological level. What initially appeared to be a controlled pullback quickly escalated into one of the most aggressive downside moves seen in recent months, reflecting a sudden shift in market sentiment and risk appetite across the crypto space. Related Reading: Bitcoin Miner Fees Remain Near Cycle Lows: What Does This Signal? On January 31st, the Ethereum market experienced a major capitulation event. ETH collapsed from above $3,000 to the $2,350 zone in a matter of hours, marking one of the steepest single-day corrections of this cycle. The speed and magnitude of the move suggest forced selling rather than orderly distribution. As price accelerated lower, a dense cluster of stop-loss orders and liquidations was triggered, amplifying downside momentum and overwhelming bid-side liquidity. This rapid breakdown erased weeks of bullish positioning almost instantly. Traders who had positioned for continuation above $3,000 were caught offside. Leading to a broad reset in derivatives exposure and sentiment. The psychological impact of losing such a widely watched level further intensified the sell-off, reinforcing risk-off behavior across both spot and futures markets. As Ethereum stabilizes below former support, investors are now reassessing whether this move represents a temporary washout or the early stages of a deeper corrective phase. The coming sessions will be critical in determining whether demand can re-emerge after this violent reset. Market-Wide Deleveraging Resets Ethereum’s Derivatives Landscape A CryptoQuant analyst explains that recent on-chain data confirms the Ethereum sell-off was driven by a market-wide leverage flush rather than organic spot distribution. According to the Ethereum Long Liquidations (All Exchanges) chart, total liquidated long positions surged to approximately $485 million, marking the second-largest liquidation event since October 10th. These spikes force a reset of the derivatives market by rapidly unwinding over-leveraged positions following an extended period of risk buildup. However, a closer look reveals an important divergence. When cross-referencing global liquidation data with the Binance (All Symbols) chart, Binance recorded only around $40 million in long liquidations during the same move. This means Binance accounted for less than 10% of total global liquidations. Despite being one of the largest derivatives venues by volume. This imbalance indicates that other exchanges concentrated excessive leverage and aggressive risk-taking, triggering far more severe liquidation cascades. This discrepancy implies that traders on Binance were either less overextended or employed stricter risk management. Allowing them to withstand the sharp downside move more effectively. In contrast, other platforms bore the brunt of forced deleveraging. From a broader perspective, this type of long squeeze tends to purge speculative excess. While painful for bullish positioning, it often sets the stage for stabilization as the market searches for a new equilibrium. Monitoring open interest and funding rates outside Binance will be critical, as the core drivers of volatility clearly originated beyond its ecosystem. Related Reading: Ethereum Trades At A Historical Accumulation Level: Can Bulls Hold $2,600 Price Breaks Down as Bearish Momentum Accelerates Ethereum’s price structure has deteriorated sharply, and the chart highlights how decisively the market has shifted into a bearish regime. After failing multiple times to reclaim the $3,000–$3,200 zone, ETH broke down aggressively, slicing through former support levels with little resistance. The recent move below $2,400 marks a clear expansion of downside momentum rather than a controlled pullback. From a trend perspective, ETH is trading well below its short- and medium-term moving averages, with the 50-day and 100-day MAs now acting as dynamic resistance. The downward-turning slope of these averages reinforces the likelihood that sellers will target rallies rather than extend them. The 200-day moving average, sitting much higher, confirms that the broader structure has shifted away from a bullish trend. Related Reading: XRP Risk-Adjusted Returns Signal Consolidation Rather Than Trend Formation – Details Volume behavior adds another layer of concern. The sell-off toward the $2,300 area was accompanied by elevated volume, signaling forced selling and capitulation rather than organic distribution. This trend aligns with recent liquidation data and indicates that the market aggressively flushed out leverage. In the short term, the $2,300–$2,200 zone is a critical area to watch. It represents the first meaningful support after the breakdown. A failure to stabilize here would open the door to deeper retracements. The chart suggests the path of least resistance remains to the downside. Featured image from ChatGPT, chart from TradingView.com 

Ethereum price extended its decline below $2,420 and $2,300. ETH is now attempting to recover from $2,150 but faces many hurdles near $2,365. Ethereum failed to stay above $2,350 and started a fresh decline. The price is trading below $2,350 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,400 zone. Ethereum Price Eyes Another Decline Ethereum price failed to remain stable above $2,500 and extended losses, like Bitcoin. ETH price traded below $2,420 to enter a bearish zone. The bears even pushed the price below $2,200. A low was formed at $2,155 and the price is now attempting to recover. There was a move above $2,250. The price tested the 23.6% Fib retracement level of the recent decline from the $3,040 swing high to the $2,155 low. However, the bears are active near $2,365. There is also a major bearish trend line forming with resistance at $2,350 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,350 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,250, the price could attempt another increase. Immediate resistance is seen near the $2,350 level. The first key resistance is near the $2,365 level. The next major resistance is near the $2,450 level. A clear move above the $2,450 resistance might send the price toward the $2,600 resistance or the 50% Fib retracement level of the recent decline from the $3,040 swing high to the $2,155 low. An upside break above the $2,600 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,700 resistance zone or even $2,720 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,365 resistance, it could start a fresh decline. Initial support on the downside is near the $2,250 level. The first major support sits near the $2,220 zone. A clear move below the $2,220 support might push the price toward the $2,150 support. Any more losses might send the price toward the $2,120 region. The main support could be $2,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,220 Major Resistance Level – $2,365

Ethereum price started a major decline after it failed to clear $2,500. ETH is down 20% and is now struggling to stay above the $2,200 support. Ethereum failed to stay above $2,550 and started a fresh decline. The price is trading below $2,400 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,415 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,200 zone. Ethereum Price Dips 20% Ethereum price failed to remain stable above $2,550 and started a major decline, like Bitcoin. ETH price traded below $2,400 to enter a bearish zone. The bears even pushed the price below $2,250. A low was formed at $2,220 and the price is now showing bearish signs below the 23.6% Fib retracement level of the recent decline from the $3,040 swing high to the $2,220 low. There is also a steep bearish trend line forming with resistance at $2,415 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,350 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,200, the price could attempt another increase. Immediate resistance is seen near the $2,350 level. The first key resistance is near the $2,420 level and the trend line. The next major resistance is near the $2,500 level. A clear move above the $2,500 resistance might send the price toward the $2,620 resistance or the 50% Fib retracement level of the recent decline from the $3,040 swing high to the $2,220 low. An upside break above the $2,620 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,800 resistance zone or even $2,880 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,420 resistance, it could start a fresh decline. Initial support on the downside is near the $2,220 level. The first major support sits near the $2,200 zone. A clear move below the $2,200 support might push the price toward the $2,120 support. Any more losses might send the price toward the $2,050 region. The main support could be $2,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,200 Major Resistance Level – $2,420

The Ethereum price has been under intense bearish pressure over the past few weeks, reflecting the overall fragile state of the cryptocurrency market. The altcoin lost nearly 20% of its value in the past week, free-falling under the psychological $3,000 level since Thursday, January 29th.  With the market still showing signs of further downside risk, there is no telling how deep the Ethereum price will fall in the current bearish setup. However, the latest on-chain data has offered insights into the next critical levels for the second-largest cryptocurrency. ETH’s Next Support Stands At $2,475: Glassnode In a recent post on the X platform, crypto analyst Ali Martinez identified the next three on-chain support levels for the Ethereum price. This on-chain evaluation revolves around the UTXO Realized Price Distribution (URPD) metric, which helps to pinpoint strong resistance and support levels based on investor cost bases. Related Reading: Ripple’s David Schwartz Shuts Down Claims Of XRP Hitting $100 For context, an investor’s cost basis refers to the actual price at which they purchased a particular cryptocurrency (Ethereum, in this scenario). Typically, the ability of a price level to function as an on-chain support or resistance zone depends on the number of investors who have their cost basis at the given level.  As inferred earlier, the UTXO Realized Price Distribution tracks the amount of a particular cryptocurrency that was acquired at a specific price level. Now, the price levels below the present spot value with significant trading activity are often considered as major support zones, as shown in the chart below. The reasoning behind this expectation is that investors with their cost bases around these price levels are likely to double down on their positions and purchase more coins. This increased buying activity will, hence, offer a cushion for the Ethereum price to stay afloat and potentially bounce back. Highlighting data from Glassnode, Martinez identified the $2,623, $2,475, and $1,881 levels as the next crucial support zones for the Ethereum price after losing the $2,772 mark. However, it appears that the altcoin’s price has also lost the $2,623 and $2,475 support following its latest decline over the weekend. Ethereum Price Overview As of this writing, the price of ETH stands at around $2,410, reflecting an over 10% decline in the past 24 hours. With this latest decline, the altcoin’s price seems to be hovering around the support cushion at around $2,475. If ETH’s stay below this support level is sustained, investors could see the Ethereum price fall to as low as $1,881. A fall of this magnitude would represent a 25% decline from the current price point and an over 60% correction from the cycle high. Related Reading: Ethereum Boost: Vitalik Buterin Sets Aside $45M In ETH For Privacy And Open Tech Featured image from iStock, chart from TradingView

Ethereum is trading at a critical juncture as buyers continue to defend the $2,600 support zone, attempting to stabilize the price after recent volatility. While this level is keeping short-term downside in check, broader market pressure and weakening structure leave bears watching closely for a potential breakdown that could open the door to a deeper macro pullback. $2,600 Holds As Key Support On Ethereum 6H Chart On X, Can Özsüer highlighted that Ethereum is currently holding above the $2,600 support zone on the 6-hour chart, a level that has so far provided a solid base for price action. As long as ETH continues to defend this area and avoids a clear candle close below it, the broader structure remains constructive for a potential upside attempt. Related Reading: Ethereum Stalls In A Critical Zone As Breakout Structures Wait For Confirmation With support intact, the analyst pointed to a recovery toward $3,050, followed by a possible move into the $3,150 region. These zones are seen as logical reaction levels where price may either consolidate or face temporary resistance if buying momentum gradually strengthens. However, for Ethereum to unlock a more meaningful bullish continuation, Özsüer stated it must reclaim $3,350, referred to as box number two on the chart. A decisive close above this level, backed by strong volume, would open the door for higher price exploration. If ETH fails to break through that resistance, it could cap price and trigger another wave of selling. In that case, a deeper pullback toward the $2,400–$2,100 support range becomes a real possibility. Özsüer also shared that he has already taken a long position based on the $2,600 support on the 1-hour chart and is monitoring price closely, with plans to add to the position depending on how momentum develops. Loss Of $2,710 Targets The $2,620 Swing Low According to crypto analyst Ardi, Ethereum is currently sitting in a make-or-break area, with $2,710 standing out as a crucial short-term support level. A clean loss of this zone would likely accelerate downside pressure, placing the $2,620 swing low firmly in focus as the next area where liquidity could be tested. Related Reading: Ethereum Chart Turns Bullish: New Cycle Energy Points To $5,000 Ardi emphasized that the $2,450 region serves as the primary line of defense for the broader market structure. Holding this level would be essential to prevent a deeper structural breakdown, as a sustained move below it could push Ethereum into a far more vulnerable technical position. Compounding the downside risk, ETH/BTC remains in a strong downtrend, highlighting Ethereum’s ongoing underperformance relative to Bitcoin. This relative weakness suggests that volatility could stay elevated in the coming sessions, making the environment increasingly unstable for ETH holders. Featured image from Pexels, chart from Tradingview.com

Ethereum has slipped below the $2,800 level and is now struggling to hold the $2,700 area, extending a phase of price weakness amid fragile market conditions. Recent price action shows limited follow-through on rebounds. With sellers continuing to cap upside attempts as broader risk appetite remains uneven. While spot momentum has softened, on-chain data suggests a more nuanced picture beneath the surface. Related Reading: XRP Risk-Adjusted Returns Signal Consolidation Rather Than Trend Formation – Details The realized price of the ETH accumulation address continues to trend higher and is now approaching the current market price. This dynamic indicates that accumulation activity has not stalled despite the drawdown. In practice, a rising realized price reflects coins being acquired at progressively higher cost bases, signaling continued participation from long-term buyers rather than capitulation. Importantly, this realized price zone has historically acted as a strong support level for accumulation whales. Notably, this price range has never been broken in prior tests. Each prior interaction with the realized price of the accumulation coincided with stabilization rather than an accelerated downside. Reinforcing its relevance as a structural reference. While this does not guarantee immediate upside or prevent short-term volatility, it provides context for the current consolidation near $2,700. Whale Cost Basis Emerges as Key Support A recent report from CryptoQuant explains that Ethereum has declined to around $2,682, a level that aligns closely with the realized price of the ETH accumulation address. This metric tracks the average cost basis of long-term accumulators. It provides a key reference point to assess where committed buyers stand. Historically, the realized price of accumulation addresses has acted as a strong structural support, particularly during corrective phases. When market price converges toward this level, it often reflects a transition from speculative selling to absorption by longer-term holders. In the current context, this zone is actively providing support, with price stabilizing rather than accelerating lower despite broader market pressure. CryptoQuant data also shows that whale accumulation remains active. Large holders continue to add ETH near these levels, suggesting confidence in this cost basis and reinforcing its role as a defended price zone. This behavior contrasts with distribution patterns typically seen near market tops, where realized prices flatten or decline as long-term holders reduce exposure. As long as the accumulation cohort maintains its position and does not begin to distribute, the probability of sustained downside below this level remains limited. Strong whale buying anchors price action near $2,680, establishing a meaningful support zone even as short-term volatility persists. Related Reading: Bitmine Stakes Additional 250,912 Ethereum Worth $745M – 61% Is Now Staked Ethereum Tests Long-Term Demand Ethereum’s price action continues to reflect a market under pressure. ETH is now trading around the $2,700–$2,750 zone after failing to hold above the $3,000 psychological level. The chart shows a clear sequence of lower highs and lower lows since the November peak, confirming that the broader trend remains corrective rather than impulsive. ETH is trading below its short- and medium-term moving averages. With the 50-day and 100-day averages acting as dynamic resistance on recent rebounds. The 200-day moving average, still trending higher above $3,500, highlights the loss of long-term momentum and reinforces the idea that the market has shifted into a consolidation-to-distribution phase rather than a continuation of the prior uptrend. Importantly, the $2,700 area aligns closely, driven by panic selling but rather by a lack of aggressive follow-through under pressure since December, suggesting the presence of structurally committed buyers. Volume has declined during recent sell-offs. This indicates that downside moves are not being driven by panic selling, but rather by a lack of aggressive follow-through from buyers. Related Reading: Ethereum Leverage Remains At Record High: What Happens Next? As long as ETH holds above the $2,650–$2,70signal a deeper retracement, whereasemain range-bound, with volatility compressing. A decisive breakdown below this zone would open the door to a deeper retracement, while stabilization here would support the case for base-building rather than trend continuation. Featured image from ChatGPT, chart from TradingView.com 

Ethereum (ETH) has retested its crucial $2,800 support level for the second time this week, as the broader crypto market erases all its intraweek gains. Some market observers have weighed in on whether investors should worry about King of Altcoin’s performance. Related Reading: Analysts Say Dogecoin Consolidation Is About To End – Parabolic Run Or Crash Ahead? Ethereum Plunges Amid Broader Market Crash On Thursday, global markets experienced a sharp decline, with stocks, cryptocurrencies, and even precious metals erasing over $3 trillion in market value in just a few hours. Ethereum, the second-largest cryptocurrency by market capitalization, followed the market-wide correction, retracing 6.9% in the daily timeframe. The cryptocurrency has been hovering between $2,800 and $3,300 since the start of the year and attempted to reclaim the upper zone of this range this month. Nonetheless, the recent geopolitical tensions and macroeconomic uncertainty have weakened the appetite for risk assets and halted the crypto market’s early January momentum. According to Binance market data, Ethereum fell below $2,800 on Thursday morning, briefly bouncing before reaching a one-month low of $2,773. Meanwhile, the leading cryptocurrency by market capitalization, Bitcoin (BTC), saw a sharp 6.2% decline, reaching a two-month low of $83,934. Data from CoinGlass shows that crypto liquidations over the past 24 hours surged to nearly $1 billion, with $917.17 million in leveraged positions forcibly closed at the time of writing. During this period, 223,915 traders were liquidated, and the largest single liquidation order happened on Hyperliquid, valued at $31.64 million. Notably, more than half of the liquidations occurred in the past four hours, wiping out over $620 million since the morning. Around $422 million came from Bitcoin positions, while $160 million came from Ethereum positions. ETH Price In ‘Endless Range’ Amid the market correction, some analysts shared their perspective on ETH’s price action. Sjuul from AltCryptoGems highlighted Ethereum’s price range in the daily chart, where the altcoin has hovered over the past two months. According to the analyst, there isn’t a clear trend as Ethereum continues to trade within its “seemingly endless range” between $2,600 and $3,350. He suggested that investors should wait for a proper breakout above the upper boundary or a breakdown from the range lows before celebrating or worrying. Similarly, trader EliZ affirmed that ETH’s macro perspective doesn’t show either real strength or weakness, but “an enormous, forced equilibrium” on the longer timeframes. He pointed out that ETH “continues to move within well-defined boxes, above and below the same levels for months/years, without ever building a directionality that can be described as structural.” Related Reading: Prediction Markets On BNB Chain Explode As Trading Volume Crosses $20B Based on this, the trader asserted that without a successful move and confirmation from its key range, short-term efforts don’t signal a “change of regime. Only liquidity rotation.” “We are not in a bullish phase, nor are we in a bearish phase. We are in a macro stalemate, where the market decides not to decide. Until we see a clean and sustained breakout of the indicated boxes …or a net loss of the same …any strong narrative is just storytelling,” he concluded. As of this writing, Ethereum is trading at $2,798, a 5.3% decline on the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum has slipped below the $3,000 level, extending a period of fragile price action as the broader crypto market remains cautious. While spot prices continue to struggle with overhead resistance, on-chain data points to a notable divergence between market sentiment and long-term positioning. According to data from Arkham, Bitmine has staked an additional 250,912 ETH—worth roughly $745 million—over the past 18 hours, adding to an already substantial locked position. Related Reading: Ethereum Leverage Remains At Record High: What Happens Next? This move brings renewed attention to the behavior of large, well-capitalized players during periods of price weakness. Staking activity of this magnitude suggests that some participants are prioritizing yield generation and long-term exposure over short-term price fluctuations. Rather than distributing holdings into market rallies, these entities are choosing to remove supply from circulation, tightening liquid availability while accepting reduced flexibility. The contrast is notable. Ethereum’s price is trading below a key psychological threshold, yet capital continues to flow into staking contracts at scale. This dynamic highlights the growing structural role of Ethereum’s proof-of-stake model, where investment decisions are increasingly driven by network participation and cash-flow–like returns, not only price appreciation. As Ethereum consolidates below $3,000, the key question is whether sustained staking demand can offset weak spot momentum, or if price will need to stabilize further before confidence returns across the broader market. Large-Scale Staking Tightens Liquid Ethereum Supply According to data from Arkham, Bitmine has now staked a total of 2,582,963 ETH, valued at approximately $7.67 billion. This represents about 61% of its total Ethereum holdings, a level that underscores how aggressively large holders are committing capital to long-term network participation rather than maintaining liquid exposure. This behavior is particularly notable given the current market context. Ethereum remains below the $3,000 level, volatility is elevated, and leverage metrics suggest fragile positioning among short-term traders. Despite this, Bitmine’s decision to stake a majority of its ETH indicates a clear preference for yield generation and balance-sheet efficiency over tactical trading. Staking effectively removes ETH from active circulation, tightening the available supply and capping sell-side pressure from these large wallets. At the same time, Ethereum balances held on exchanges have continued to trend lower, reinforcing the picture of constrained liquid supply. While declining exchange balances do not guarantee upward price movement, they do suggest that fewer coins are readily available to meet sudden sell demand. In this environment, price action becomes more sensitive to marginal flows, particularly during periods of stress or renewed demand. The combination of large-scale staking and shrinking exchange reserves points to a market where long-term holders are locking in exposure. Even as short-term sentiment remains cautious. Whether this structural tightening of supply translates into price support will depend on broader risk conditions and the return of sustained spot demand. Related Reading: OKX Launches Crypto Payment Card Across the European Economic Area ETH Consolidates Below Key Moving Averages Ethereum’s price action reflects a market caught between weakening momentum and an attempt to stabilize after a prolonged correction. On the daily chart, ETH is trading near the $2,900–$3,000 zone, a level that has acted as both psychological support and a pivot area in recent weeks. The rejection from higher levels earlier in the quarter confirmed a clear sequence of lower highs, keeping the broader structure tilted to the downside. From a trend perspective, ETH remains below its key moving averages. The 50-day average has rolled over and sits above the price. Reinforcing short-term bearish pressure, while the 100-day average continues to slope downward. Acting as dynamic resistance near the $3,200–$3,300 area. The 200-day moving average is still rising but flattening. Is positioned higher and signals that long-term trend support has not yet been reclaimed. Until ETH can close decisively above the 50- and 100-day averages, upside attempts are likely to remain corrective rather than impulsive. Related Reading: Bitcoin Derivatives Pressure Hits 30-Day Extreme, Price Refuses To Break Volume dynamics add context to this consolidation. Selling pressure during the latest pullback was notable but not extreme, suggesting distribution rather than panic. Since then, volume has contracted, consistent with a market entering a compression phase. This points to indecision rather than aggressive accumulation. Overall, ETH is consolidating below major resistance while holding a fragile support band near $2,800–$2,900. A sustained loss of this zone would expose downside risk. While any recovery requires a reclaim of key moving averages to shift the structure toward stabilization. Featured image from ChatGPT, chart from TradingView.com 

Ethereum price started a major decline after it failed to clear $3,050. ETH is down 10% and is now struggling to stay above the $2,700 support. Ethereum failed to stay above $2,880 and started a fresh decline. The price is trading below $2,800 and the 100-hourly Simple Moving Average. There is a steep bearish trend line forming with resistance at $2,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,700 zone. Ethereum Price Dips 10% Ethereum price failed to remain stable above $2,880 and started a major decline, like Bitcoin. ETH price traded below $2,820 to enter a bearish zone. The bears even pushed the price below $2,750. A low was formed at $2,680 and the price is now showing bearish signs below the 23.6% Fib retracement level of the recent decline from the $3,040 swing high to the $2,680 low. There is also a steep bearish trend line forming with resistance at $2,820 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,800 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,700, the price could attempt another increase. Immediate resistance is seen near the $2,765 level. The first key resistance is near the $2,820 level and the trend line. The next major resistance is near the $2,860 level and the 50% Fib retracement level of the recent decline from the $3,040 swing high to the $2,680 low. A clear move above the $2,860 resistance might send the price toward the $2,900 resistance. An upside break above the $2,900 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,050 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,820 resistance, it could start a fresh decline. Initial support on the downside is near the $2,700 level. The first major support sits near the $2,680 zone. A clear move below the $2,680 support might push the price toward the $2,620 support. Any more losses might send the price toward the $2,550 region. The main support could be $2,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,700 Major Resistance Level – $2,820

Ethereum price started a recovery wave above the $2,880 zone but it failed near $3,050. ETH is declining and might struggle to stay above $2,920. Ethereum failed to stay above $3,000 and started a fresh decline. The price is trading below $2,990 and the 100-hourly Simple Moving Average. There was a break below a bullish trend line with support at $3,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,880 zone. Ethereum Price Dips Again Ethereum price managed to remain stable above $2,880 and started a recovery wave, like Bitcoin. ETH price was able to clear the $2,920 and $2,950 resistance levels. The bulls even pumped the price above $3,000. However, the bears remained active near $3,050. A high was formed at $3,040 and the price started another decline. There was a move below the 23.6% Fib retracement level of the recent upward move from the $2,784 swing low to the $3,040 high. Besides, there was a break below a bullish trend line with support at $3,000 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,980 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,920, the price could attempt another increase. Immediate resistance is seen near the $2,980 level. The first key resistance is near the $3,000 level. The next major resistance is near the $3,050 level. A clear move above the $3,050 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,180 resistance zone or even $3,200 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,000 resistance, it could start a fresh decline. Initial support on the downside is near the $2,920 level. The first major support sits near the $2,880 zone or the 61.8% Fib retracement level of the recent upward move from the $2,784 swing low to the $3,040 high. A clear move below the $2,880 support might push the price toward the $2,820 support. Any more losses might send the price toward the $2,780 region. The main support could be $2,740. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,880 Major Resistance Level – $3,000

Ethereum is attempting to reclaim the $3,000 level as the broader crypto market remains trapped in a phase of uncertainty and uneven conviction. Price action suggests buyers are willing to defend key support zones, yet momentum remains fragile, with rallies struggling to extend meaningfully. This hesitation is occurring against a backdrop of elevated leverage and unstable derivatives behavior, which continues to shape short-term market dynamics. Related Reading: XRP Derivatives Reset: Open Interest Drops Nearly 60% From July Peak A recent report from CryptoQuant highlights a growing source of risk beneath the surface. Ethereum’s Estimated Leverage Ratio on Binance remains at a record high, with the 7-day simple moving average holding around 0.632. This indicates a heavy concentration of leveraged positions, leaving the market increasingly sensitive to sudden price swings and liquidation events. In parallel, order-flow data points to erratic trader behavior, reinforcing the view that the current structure lacks balance. The Taker Buy Sell Ratio illustrates this instability clearly. On January 25, the metric fell to 0.86, its lowest reading since September, signaling strong taker sell dominance. Shortly after, it rebounded sharply to 1.16, the highest daily level since February 2021, reflecting aggressive market buying. Such abrupt reversals underscore a market driven more by short-term positioning than by sustained directional confidence. Ethereum Consolidates as High Leverage Amplifies Volatility Risk The report explains that this abrupt shift in taker behavior is unfolding while Ethereum price action remains structurally weak. After failing to break above the $4,800 all-time high, ETH entered a prolonged corrective phase and is now consolidating near the $2,800 support zone. This level has become a short-term pivot, repeatedly absorbing selling pressure but failing to generate sustained upside momentum. The lack of follow-through highlights a market caught between defensive buyers and aggressive short-term traders. What makes this phase particularly sensitive is the interaction between price compression and elevated leverage. With Ethereum’s Estimated Leverage Ratio still near record highs, even modest price moves can trigger outsized reactions in the derivatives market. Rapid reversals in the Taker Buy Sell Ratio reinforce this fragility, signaling that positioning is flipping quickly rather than building in a stable, directional manner. Such conditions often precede sharp expansions in volatility rather than orderly trends. Under this setup, Ethereum appears highly dependent on a clear external or internal catalyst. Without a decisive shift in macro conditions, spot demand, or network-specific developments, price action is likely to remain reactive. Until conviction emerges on either side, the combination of high leverage and unstable order flow keeps the risk of sudden liquidations elevated, increasing the probability of abrupt and disorderly price movements around key technical levels. Related Reading: Bitcoin Derivatives Pressure Hits 30-Day Extreme, Price Refuses To Break Price Action Details: Testing Critical Resistance Ethereum’s price action reflects a market caught between stabilization and unresolved downside risk. On the daily chart, ETH is trading near $3,000 after several failed attempts to reclaim higher levels, highlighting this zone as a key psychological and technical pivot. Price remains below the 50-day and 100-day moving averages, both of which are sloping downward, reinforcing the idea that short- to medium-term momentum is still fragile. The 200-day moving average sits higher, near the mid-$3,500 area, acting as a clear marker of the broader trend deterioration since ETH failed to hold above $4,000. Related Reading: Bitcoin Breaks Below $87K As Political Risk Spikes – Liquidations Reveal The Real Driver ETH has transitioned from a strong impulsive uptrend into a wide consolidation range, bounded roughly between $2,800 and $3,400. The recent bounce from the lower end of this range suggests that buyers are still defending the $2,800 support zone, but volume remains muted compared to prior selloffs, indicating a lack of strong conviction on either side. Each rally attempt has so far produced lower highs, consistent with a corrective or distributional phase rather than a renewed trend. As long as ETH holds above $2,800, the market can argue for consolidation and base-building. However, a sustained break below that level would expose the downside toward the $2,500–$2,600 region. Conversely, reclaiming the $3,300–$3,400 area would be required to meaningfully improve the technical outlook. Featured image from ChatGPT, chart from TradingView.com 

The Bitcoin and Ethereum prices rallied after reports of the US dollar crashing spread across the market. Recent data show that the US dollar has fallen to its lowest level in four years, raising concerns about the strength of the world’s dominant reserve currency. As the dollar weakens, market players are beginning to shift attention to alternative assets such as precious metals and digital currencies, including BTC, which is increasingly viewed as a potential hedge against rising inflation and currency depreciation.  US Dollar Falls To Lows Not Seen In 4 Years New reports from Bloomberg highlight the relentless slide in the US dollar index (DXY) over recent weeks, with the price tumbling further after President Donald Trump’s comments on the currency’s performance. Sources reveal that Trump said the dollar is “doing great,” despite its ongoing downturn.  Related Reading: Analyst Says Chainlink Price Could Crash 50% If This Level Fails Traders interpreted the President’s seemingly indifferent response to the declining dollar as a signal that the slide could continue, triggering further selling pressure. Data from the web-based stock market research platform Finviz shows that, as of writing, the US dollar index has crashed to 95.92 from a previous level near 100. This marks its weakest level in nearly four years, specifically since 2022.  Additionally, Bloomberg reported that its Dollar Spot Index also recorded its lowest four-day decline since Trump announced new tariffs in April 2025. Traders in the $9.5 trillion per-day currency markets are also increasingly betting that the dollar could decline further, as US policy risks weigh on the world’s primary reserve currency.  Amidst the decline in the US dollar index, cryptocurrencies like Bitcoin and Ethereum are posting gains. BTC’s price rose above $89,000, while Ethereum has climbed more than 3% to reach above $3,000, in the past 24 hours. This simultaneous rally in cryptocurrencies alongside the weakening US dollar suggests that investors may be shifting capital to risk-on assets.  Market analyst ‘Master of Crypto’ recently outlined several reasons behind the continued decline in the weakening US dollar in a post on X. He explained that large budget deficits, the FED’s challenge of balancing inflation control with job market stability, steady bond supply, and FX hedging activities are keeping the US dollar near recent lows. According to him, in this type of market environment, holding idle cash becomes a significant risk for investors.  Related Reading: Here’s How Much XRP Ripple Execs Have Dumped So Far Possible Implications For The Bitcoin And Ethereum Price Historically, periods of US dollar weakness have often coincided with rallies in Bitcoin, and other cryptocurrencies. When the dollar declines, investors sometimes seek alternative assets to preserve value. This can increase demand for Bitcoin and Ethereum, which are viewed by many as alternative stores of value and risk-on assets.  While this correlation is not a clear indication of a potential cryptocurrency rally, analysts like ‘Milk Road Macro’ suggest that the declining dollar could help support a broader crypto market recovery. He said that as the dollar weakens, capital will flow into precious metals like gold and silver. Soon after, this same capital is expected to rotate into BTC, potentially fueling a price rebound.  Featured image created with Dall.E, chart from Tradingview.com

A Glassnode analyst has pointed out how Ethereum is retesting a dense supply cluster that could set the tone for where the cryptocurrency heads next. Ethereum Is Trading At A Dense Level On The CBD In a new post on X, Glassnode analyst Chris Beamish has talked about how Ethereum is looking from the perspective of the Cost Basis Distribution (CBD). The CBD is an on-chain indicator that tells us about the total amount of ETH that investors last purchased at the various levels that the cryptocurrency has visited in its history. Related Reading: Bitcoin Social Interest Fades As Retail Chases Gold, Silver Hype Below is the chart shared by Beamish that shows the CBD heatmap for Ethereum. As is visible in the graph, Ethereum’s bottom in November gave rise to a dense supply cluster on the CBD around the $2,750 level. Interestingly, the zone has since acted as a support barrier for the asset multiple times. The explanation behind this trend could lie in investor psychology. Generally, investors are sensitive to a retest of their cost basis since it can lead to a flip in their profit-loss balance. As such, they can be likely to show some kind of move when one takes place. When the retest is occurring from above, the holders might react by accumulating more in order to defend their break-even level. This is the pattern that has potentially been witnessed since the November bottom. From the chart, it’s apparent that Ethereum retested the $2,750 supply zone twice in December and both times, the asset was able to rebound. Recently, a third retest has taken place and so far, the support has held, but it only remains to be seen how long the coin will maintain above it. “Holding here suggests absorption and base building, but a breakdown would move price into thinner support where underwater supply may derisk,” explained the analyst. Usually, regions where a large amount of supply shares a cost basis tend to act as notable sources of support/resistance. The $2,750 cluster might fall in this category, but that doesn’t make it unbreachable. “Next move hinges on this level,” noted Beamish. Related Reading: Stablecoin Market Cap Drops By $7 Billion—What It Means For Bitcoin In some other news, Ethereum has witnessed a decline in transaction fees recently, as highlighted by Glassnode in an X post. Following this drawdown, the transaction fees on the Ethereum blockchain has fallen to its lowest level since May 2017, a potential indication that network activity has gone down. ETH Price At the time of writing, Ethereum is trading around $2,950, down 1.5% over the last week. Featured image from Dall-E, chart from TradingView.com

Ethereum price started a recovery wave from the $2,800 zone. ETH is now trading near $3,000 and might aim for more gains if it clears $3,050. Ethereum managed to stay above $2,850 and started a recovery wave. The price is trading above $2,950 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2,970 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,880 zone. Ethereum Price Starts Recovery Ethereum price managed to remain stable above $2,850 and started a recovery wave, like Bitcoin. ETH price was able to clear the $2,900 and $2,920 resistance levels. The price cleared the 61.8% Fib retracement level of the downward wave from the $3,065 swing high to the $2,784 swing low. The price even surpassed the $3,000 level. A high was formed at $3,030 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $2,784 swing low to the $3,030 high. Ethereum price is now trading above $2,980 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $2,970 on the hourly chart of ETH/USD. If the bulls remain in action above $2,970, the price could attempt another increase. Immediate resistance is seen near the $3,030 level. The first key resistance is near the $3,050 level. The next major resistance is near the $3,065 level. A clear move above the $3,065 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,180 resistance zone or even $3,200 in the near term. Another Rejection In ETH? If Ethereum fails to clear the $3,050 resistance, it could start a fresh decline. Initial support on the downside is near the $2,970 level. The first major support sits near the $2,950 zone. A clear move below the $2,950 support might push the price toward the $2,880 support. Any more losses might send the price toward the $2,825 region. The main support could be $2,780. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,950 Major Resistance Level – $3,050

The Ethereum price has struggled to regain momentum amid a persistent downtrend. After closing the last four months in the red, the world’s second-largest cryptocurrency is showing no signs of relief in January 2026. On-chain data shows that Ethereum’s current trajectory mirrors past cycle downturns, raising the possibility of further price declines and prolonged bearish sentiment.  Ethereum Price Nears Fifth Consecutive Month Of Losses Ethereum has been in a prolonged slump, marking its fourth straight month of losses in 2025. As the market navigates the final week of January, the cryptocurrency is poised to potentially close a fifth consecutive month in the red, a streak that would reinforce the ongoing bearish trend.  Related Reading: Analyst Says You’re Not Bullish Enough On Ethereum – What Does He Mean? On-chain data from CryptoRank shows that throughout 2025, Ethereum saw more red months than green ones. The cryptocurrency began the year with four consecutive months of decline from January to April, followed by a brief recovery in May, only to fall again in June. After this, ETH posted two months of gains, finishing July and August in the green. However, this recovery was short-lived, and since then, the cryptocurrency has been in a downtrend. During its most recent four-month decline, CryptoRanks reported that Ethereum closed September down by 5.59%. The downtrend accelerated at the end of November, with the cryptocurrency crashing by 22.2%, more than four times the decline of the previous monthly close. December 2025 saw another month in the red, though the drop was much smaller, at just 0.83%.  Now, in January 2026, Ethereum is still in a downtrend. On-chain data indicates the cryptocurrency has already fallen 1.78% this month, and shows no sure signs of a bullish reversal. Moreover, at the time of writing, ETH is trading above $2,900, reflecting a roughly 5.95% decline over the past week.  What A Red January Could Mean For ETH The last time Ethereum closed five consecutive months in the red was in 2018. That year, Ethereum significantly underperformed, recording gains in only 3 of 12 months. The cryptocurrency had posted continuous monthly losses, with November marking its steepest monthly decline at 42.5%.  Related Reading: Ethereum Funding Rates Pushing Towards Negative: What’s Going On? After the four-month closing streak, Ethereum’s downtrend persisted for another two months before experiencing a sharp but brief recovery in December 2018. Despite this temporary rebound, the cryptocurrency closed January 2019 in the red, falling 20%.  If history were to repeat itself in the current cycle, Ethereum could end January in a decline, similar to its 2018 performance. Interestingly, historical data shows that February has often been a bullish month for ETH. However, 2025 has seen declines from January through to April; it’s uncertain if Ethereum will follow past bullish patterns. For now, what is certain is that ETH’s price is down and would need a significant boost in its bullish momentum.    Featured image from iStock, chart from Tradingview.com

The second-largest cryptocurrency by market capitalization, Ethereum, appears to have quietly crossed an important critical threshold that has historically signaled major price expansions. While the Ethereum price action may still appear calm on the surface, underlying market structure and flow dynamics suggest a meaningful shift is underway. This type of transition typically occurs when accumulation replaces distribution, volatility compresses, and smart money positions ahead of broader market recognition. A Silent Shift That Usually Comes Before Violent Expansion Ethereum just crossed a quiet but massive threshold. Trader and investor Shuarix has mentioned on X that Zama has gone live with the first fully encrypted Initial Coin Offering (ICO) ever executed on the ETH mainnet, moving a confidential USDT and running a sealed-bid Dutch auction entirely on encrypted data. Related Reading: Ethereum Gains Institutional Support, Though ETH Price Outlook Remains Contested In just 3 days, more than $118 million was committed, over $100 million was shielded, and the auction was 218% oversubscribed with more than 11,000 verified bidders. At peak activity, the Zama application became the most-used app on ETH, surpassing both USDT and Uniswap during the event, with zero downtime and full ETH-level throughout. Crypto analyst Milk Road revealed that BitMine Immersion Technologies has made a large purchase of 40,302 ETH in a single move, which brings their total stack holdings to a massive 4,243,338 ETH, worth over $12.3 billion at the current price. In perspective, the company now controls 3.52% of the entire ETH circulating supply, and they’re not just letting it sit idle. According to Milk Road, BitMine has over 2 million ETH tokens already staked, generating $180 million in annualized rewards. This means the company is not just playing the buy-and-hold game, but compounding its position at scale, which is all well and good for BitMine. Meanwhile, this sustained buying pressure will help create a price floor for the long-term ETH holders. Furthermore, this move is the type of institutional accumulation that will keep ETH moving inside its ascending channel. Thus, this will help to pull the price back into that channel after the macro shocks temporarily push it out. “Below is the 2025 tariff shock. While the headlines try to muddy your view of things, this chart will tell the real story,” Milk Road noted. Accumulation Continues Despite Price Being Near Entry Levels The realized price of the Ethereum accumulation address is acting as a major support level. A crypto investor known as CW has also pointed out that ETH has only reached this realized price once in history, which is very similar to the current price range.  Related Reading: Ethereum Stalls In A Critical Zone As Breakout Structures Wait For Confirmation However, the whale’s purchase price for ETH is not significantly different from the current price. Despite that, their ETH accumulation is increasing, indicating that whales still view the current price as fair value. This shows that they are preparing for an upward trend. Featured image from Adobe Stock, chart from Tradingview.com