🚨 Ethereum ($ETH /USDT) Market Update — 23 January 2026 🚨
📉 Price Movement: Ethereum has slipped below the key $2,900 USDT level and is currently trading around $2,896.65 USDT, marking a daily decline of ~1.9%.
📊 Market Trend:
ETH failed to hold above the psychological $3,000 resistance, increasing short-term bearish pressure.
Selling momentum remains visible as traders stay cautious amid broader market volatility.
🔍 Key Market Insights:
🐋 Whale Activity: Despite the dip, some large holders are reportedly accumulating ETH at lower levels, indicating selective buying interest.
📉 Volume & Volatility: Trading volume is moderate, suggesting continued price swings in the near term.
🧱 Support Levels: The $2,800–$2,880 zone is a critical support area. A break below this range could open the door to further downside.
📈 Outlook:
Short-term sentiment remains bearish, with pressure from derivatives markets and funding rates.
However, strong long-term fundamentals and institutional interest may help ETH stabilize if market conditions improve.
📝 Summary:
Ethereum is currently under pressure, trading below $2,900 USDT with a near 2% daily loss. The next move will depend on whether $ETH can hold key support levels or faces an extended correction.