January 29 News, Ethereum (ETH) once again fell below the $3000 level, with the current price hovering around $2940, down more than 14% from the previous high of approximately $3400. Technical analysis shows that sellers have built a strong resistance zone above $3000, and in the short term, the price still faces downside risks.
This round of correction occurs against a backdrop of intertwined macro and geopolitical factors. The Federal Reserve kept interest rates unchanged at this year’s first policy meeting, while tensions in the Middle East have boosted risk aversion sentiment, putting pressure on risk assets. ETH subsequently broke below a key support level and officially confirmed a downward breakout from the symmetrical triangle pattern.
From a chart perspective, ETH briefly rebounded after breaking below the downtrend line last week, but encountered selling pressure at the resistance zone that was formerly support, resulting in a failed retest. Such movements are often seen in technical analysis as “resistance confirmation,” indicating that the bearish momentum still dominates. If this pattern continues, the price in mid-February could target a measured move around $2250, with a potential decline of about 25%.
However, bulls are not without opportunities. If ETH can re-establish above the lower trendline of the triangle and break through the $3065 area near the 200-day moving average, and recover the long-term resistance at the 50-day moving average, this could be seen as a failed breakdown, and market sentiment may improve significantly. Historically, ETH experienced a similar structure in 2024, followed by a rebound after key moving averages were reclaimed.
From a medium- to long-term perspective, some institutions and analysts remain bullish. Annie believes that as the Wyckoff accumulation model gradually manifests, Ethereum could have room to rise to $10,000 by 2026; Standard Chartered’s target is $7,500. The gap between short-term volatility and long-term vision is currently the core focus of ETH market debates.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
"Silver Iron Head Air Force" reduces exposure by $11.44 million; ETH short position is up slightly and the position is exited. It still holds a $11.0 million short position.
April 8, the “Silver Iron Head Air Force” whale reduced its ETH short position by about $11.4484 million, and still holds 5,126 short contracts, worth about $11 million. Since April 1, this whale has continued to add positions at 20x leverage and has been performing swing trades, setting long and short positions in different price ranges.
GateNews58m ago
Yesterday, the Ethereum spot ETF saw net outflows of $64.61 million, with Fidelity and BlackRock as the main outflow sources.
Gate News, a message from April 8: According to monitoring by Trader T, yesterday (April 7), Ethereum spot ETFs saw net outflows of $64.61 million. Among them, Fidelity FETH had outflows of $48.21 million, and BlackRock ETHA had outflows of $16.39 million; together, they accounted for all of the total outflow. The remaining institutions had no fund flows that day.
GateNews59m ago
Whale "0xaBb" Purchases 2,521 ETH Worth $5.5M and Supplies to Aave V3
Gate News message, whale address "0xaBb" purchased 2,521 ETH using $5.5 million USDC and supplied it into Aave V3. The whale currently holds 36,385 ETH valued at $81.24 million and has borrowed $41.8 million USDC. The address is 0xabbd5b2b0b034781e58434736728b9d0673de7f1.
GateNews1h ago
XRP Leads $224 Million Weekly Inflows as Ethereum Lags and Bitcoin Sentiment Remains Mixed
Global digital asset investment products recorded $224 million in net inflows for the week ending April 3, 2026, following a $414 million outflow the prior week, with XRP dominating at $119.6 million while Ethereum saw $52.8 million in outflows and Bitcoin posted $107.3 million in net inflows amid polarized investor sentiment.
CryptopulseElite1h ago
Charles Schwab Investment Management releases a cryptocurrency investment research report, saying that even a small allocation can increase portfolio risk
Charles Schwab Investment Management published a report stating that cryptocurrency investments do not have a fixed allocation percentage and should be determined based on investors’ goals and risk tolerance. It proposes two investment approaches: return-based and risk-based, and also notes that a modest increase in crypto asset allocation can improve portfolio performance, and that cryptocurrencies can provide diversified returns for traditional asset portfolios.
GateNews2h ago
