Ethereum Daily Chart Analysis: Local Lows and Major Trading Levels

Ethereum current price is $2.70K as of January 31, 2026, according to the latest update of the tracker. The daily chart recently showed extreme overselling with a retest of critical levels, triggering a chain reaction in the market. Yesterday, the asset declined from 3100 to 2900, then major players restored demand up to 3050, creating an interesting setup for short positions and further developments.

Current Price Dynamics and Daily Trend

Ethereum has traded within a range of $2.64K to $2.77K over the past 24 hours. The daily chart shows a high of 3037 and a low of 2904, with a clear weakness signal due to horizontal contraction of the EMA trend indicator. Key resistance levels are at EMA30 and the 786 retracement line, while pressure is focused around 3120 – a double failure to break this level indicates a continuation of the bearish scenario.

Daily Chart: Technical Configuration and Weakness Signals

The daily MACD continuously decreases volume, with DIF and DEA trending downward through the zero line. For three consecutive days, the daily chart traded at the lower Bollinger Band at 2920, indicating a significant accumulation level. If support is held too long, it will inevitably be broken – in that case, we expect a northward move to 2950–3000, with further breakout targets reaching 3050.

Four-Hour Chart: Accumulation Zone and Reversal Signals

After an unsuccessful attack on 3070, the four-hour chart began to retreat. The EMA trend indicator continues to decline, and MACD shows a bottom with alternating positive and negative values. The critical accumulation zone of major players is centered at 2920, with the lower Bollinger Band supporting at 2850, and the middle line at 3040. KDJ forms a deadly crossover, signaling an approaching fall if the market continues downward. Short-term supports are at 3000 and 3120.

Practical Trading Scenarios and Risk Management

Long Scenario (from the south): Entry at 2850 to 2800 for a northward move, stop-loss 40 points (protection at 2750), target levels 2900–2950, with potential extension to 3000–3050 if resistance is broken.

Short Scenario (from the north): Entry at 3000 to 3050 for a southward move, stop-loss 40 points (protection at 3100), target levels 2950–2900, with extension to 2850–2800 if support is broken.

Specific actions should be based on real market data and current situation at the time of entry. The trader bears the risks, and analysis is provided solely for review and educational purposes. It is recommended to confirm signals with additional indicators before executing orders.