$ETH is currently navigating a period of significant volatility as of late January 2026. After a strong start to the year, the coin has recently faced a corrective phase, mirroring broader trends in the cryptocurrency market.

Short Analysis: Ethereum (ETH)

Price Performance & Support/Resistance: As of January 24, 2026, Ethereum is trading near the $\$2,970$ mark. It recently experienced a sharp rejection at the $\$3,300 - \$3,400$ range, leading to a breakdown below the psychological $\$3,000$ level.

Immediate Resistance: $\$3,050 - \$3,100$.

Key Support: $\$2,850$, with a major secondary floor at $\$2,700$.

Macro Drivers: The recent price drop (roughly $10\%$ over the last week) is largely attributed to "risk-off" sentiment in global markets. Threats of new international trade tariffs and geopolitical uncertainty have pushed investors toward safe-haven assets like Gold, impacting both Bitcoin and Ethereum.

Institutional Activity: While Ethereum Spot ETFs saw record inflows earlier in the month, they have recently pivoted to net outflows (approximately $\$230$ million on Jan 20 alone), reflecting temporary institutional caution. However, long-term fundamentals remain robust; nearly $30\%$ of the total ETH supply is currently staked, and large-scale accumulation by institutional players continues to tighten the liquid supply.

Technical Outlook: The "Fusaka" network upgrade scheduled for 2026 remains a primary bullish catalyst. Analysts suggest that if ETH can reclaim the $\$3,100$ level with significant volume, it may set the stage for a run toward the $\$4,000$ mark by mid-year.

Ethereum (ETH) Candlestick Chart

The chart below illustrates the price action of Ethereum over the last 15 days of January 2026, highlighting the recent breakdown from the $\$3,300 $ETH #ETHETFsApproved #ETHMarketWatch