$ETH
As of late January 2026, Ethereum (ETH) is navigating a complex market phase.
Prices are currently testing the $2,700–$2,800 support level after a volatile month.
Investor sentiment is cautious following a rejection at the psychological $3,000 mark.
A major $1.2 billion options expiry today is adding significant short-term volatility.
Despite price struggles, exchange supply has hit record lows at roughly 8.15 million ETH.
A massive 30% of total supply is now locked in staking, showing long-term conviction.
Institutional interest remains high, with analysts eyeing a potential climb to $7,000+ later this year.
Network upgrades like Glamsterdam are set to enhance parallel processing capabilities.
Layer-2 ecosystems continue to dominate retail traffic, keeping the mainnet as a settlement layer.
Technically, a break back above $3,300 would be required to confirm a new bullish trend