$ETH short analysis (as of Jan 21, 2026):

Ethereum remains the #2 cryptocurrency by market cap (~$359B), powering smart contracts, DeFi, NFTs, and most of Web3.

Current price hovers around $2,970–$2,980 USD, down sharply (~4–7%) in the last 24 hours from recent levels near $3,100–$3,200.

24h trading volume is very high ($15–34B across sources), showing strong liquidity despite the dip.

ETH has been under pressure in early 2026 with heavy selling, whale movements, and broader market correction.

Recent months saw volatility: brief pushes above $3,300+ but failed to hold, now testing support around $2,900–$2,950.

Ethereum's 2026 roadmap focuses on ZK-EVM improvements, node efficiency (Helios), better privacy tools, and social-recovery wallets.

It still dominates Layer-1 smart contract platforms but faces competition from faster/cheaper L2s and rivals like Solana.

Staking yield, EIP upgrades, and ETF flows continue supporting long-term holders.

Technically, the chart shows bearish momentum short-term (recent engulfing/down candles), but long-term uptrend from 2025 lows remains intact.

Overall: Solid fundamentals for 2026+, but short-term choppy — watch $2,880 support and macro risk sentiment.

Candlestick chart description (latest view, daily timeframe):

The recent candles show a strong bearish drop: big red daily candles over the past few days, with today's (Jan 21) candle opening ~$2,936, hitting a low ~$2,925, and currently trading $2,975–$2,980 (partial recovery but still down significantly). Previous days featured large bearish bodies with wicks, indicating seller control and rejection at higher levels ($3,100–$3,200). No strong reversal pattern yet — looks like continuation lower unless bulls defend $2,900 zone hard.

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