#数字资产动态追踪 $ETH How do you view this wave of market movement? As of January 3, 2026, the price is hovering around 3120 USDT, up 3.8% in 24 hours. The momentum is quite decent.

**Recent Momentum**

The current performance is indeed interesting—price swings between 3060 and 3148, but trading volume has clearly increased. Strong resistance levels are at 3150 and 3200, with support points at 3060-3080 and the psychological level of 3000.

Spot funds are flowing in, institutions are increasing their staking positions, and the futures market shows a long-short ratio of 1.12, indicating market disagreement. On the 4-hour chart, RSI hovers around 65 (not yet overbought), MACD shows a golden cross but momentum is waning, with selling pressure clearly visible above.

**Short-term Trend Judgment**

The 4-hour and daily charts indicate a slightly bullish consolidation pattern. As long as 3150 isn’t broken, expect continued consolidation here. If it can hold above 3150 with increased volume, there’s a chance to test 3200. Conversely, if it falls below 3060, it needs to retest 3000. The trading volume during the European and US sessions is crucial, as it will determine the subsequent pace.

**Medium-term Outlook**

From the weekly chart, since breaking above 3000, the trend has shifted to bullish. The staking ecosystem and Layer2 support are quite stable, but only if it holds above 3200 with volume. If these conditions are met, the medium-term target could be in the 3500-3600 range.

**Fundamental Situation**

Honestly, the fundamentals remain solid. Staked amount has exceeded 30 million tokens, accounting for about 25% of circulating supply. This sizable locked-up position significantly reduces selling pressure. The annualized staking yield is around 4.5%, which is attractive for long-term holders.

Layer2 ecosystem is a bright spot—daily transaction volume has already surpassed the mainnet by three times. The transaction fees generated are reinvested into the mainnet. Plus, the reduced costs from the Dencun upgrade boost ecosystem vitality. Additionally, there’s potential approval for spot ETFs, with continuous inflows of institutional funds, providing room for positive catalysts.

**Risks to Watch**

The selling pressure between 3150 and 3200 is quite evident. The approval of ETFs remains uncertain, and the Fed’s rate cut pace could fluctuate, coupled with regulatory uncertainties, which could lead to short-term profit-taking pressure.

**Trading Strategy**

For short-term trading, consider entering small positions on dips around 3060-3080, with a stop-loss at 3050. If it breaks above 3150, add to positions with a target of 3200. If it falls below 3060, exit positions.

For swing trading, wait until it stabilizes above 3200 with volume, then consider medium-term positions targeting 3500-3600. Without this breakout, focus on short-term high-low trading.

In risk management, do not allocate more than 5% of your account to a single position, and strictly adhere to stop-losses. Avoid chasing highs, keep an eye on ETF developments, staking data changes, and stay away from high leverage.

**Final Words**

Overall, $ETH is consolidating in the short term but leaning bullish, with a favorable medium-term trend. Long-term support remains solid. The trading logic is to buy on dips during pullbacks, with proper risk controls. Key factors to monitor are whether 3150 can be broken, if 3060 is lost, and changes in volume, ETF approvals, and staking dynamics.