Ethereum Holds $3,000 as Whales Accumulate: Key Resistance and Support Levels to Watch
Ethereum (ETH) has stabilized above the $3,000 mark after a pointy sell-off earlier this week, as giant holders elevated their publicity throughout the dip. The restoration follows a risky interval by which ETH briefly fell beneath key technical ranges, triggering liquidations and renewed warning throughout the broader crypto market.
On January 22, Ethereum was buying and selling round $3,003, up roughly 1.3% over 24 hours. The rebound got here after ETH dropped practically 13% between January 19 and 21, touching the $2,900 space for the primary time in 4 weeks.
That decline coincided with heightened macro uncertainty, ETF outflows, and the liquidation of over $480 million in bullish leveraged positions.
Ethereum Accumulation Contrasts With Cautious Positioning
On-chain information exhibits that enormous Ethereum holders accrued aggressively throughout the latest downturn. Whale balances elevated by roughly 290,000 ETH over a two-day interval, representing purchases value shut to $360 million at present costs.
This conduct means that some long-term buyers view the latest pullback as a shopping for alternative. However, different indicators level to a extra cautious stance amongst skilled merchants.
The sensible cash index stays beneath its sign line, a degree that has traditionally been crossed forward of stronger upside strikes. In earlier cases, such confirmations preceded double-digit positive factors, however no such sign has emerged to this point.
Derivatives information help this wait-and-see method. ETH perpetual futures funding charges briefly turned adverse, indicating lowered confidence amongst leveraged merchants. Options markets have additionally proven elevated demand for draw back safety after repeated rejections close to the $3,400 degree over the previous two months.
Technical Structure Highlights Tight Trading Range
From a technical perspective, Ethereum is buying and selling inside a symmetrical triangle on the every day chart.
Momentum indicators present a bullish divergence, the relative power index has fashioned increased lows whereas the worth made decrease lows between November and mid-January. This sample means that promoting strain could also be weakening, although affirmation continues to be missing.
The speedy degree to watch on the upside is $3,050, a former help zone that ETH misplaced throughout the latest sell-off. A sustained every day shut above this degree would point out short-term stabilization.
Above that, the $3,146–$3,164 vary represents a dense provide zone, the place roughly 3.4 million ETH have been accrued. This space is anticipated to act as a powerful resistance.
Related Reading: Bitcoin Took Top Spot In 2025 Crypto Payments, Litecoin Third-Most Used: CoinGate
On the draw back, failure to maintain the triangle’s decrease boundary close to $2,910 might open the door to a deeper transfer towards the $2,610 help space.
Cover picture from ChatGPT, ETHUSD chart on Tradingview
