Ethereum is currently trading near $3,200, with exchange-traded fund (ETF) inflows remaining steady, and analysts are closely watching the $3,250 resistance level and support levels around $3,000. As the second-largest cryptocurrency by market capitalization, Ethereum’s price movement is crucial for the overall crypto market trends.
Ethereum (ETH) has surged above $3,200, gaining approximately 2% in the last 24 hours and over 8% during the past week. The trading volume stands at an impressive $26 billion, demonstrating significant investor interest in the cryptocurrency. This upward move has positioned ETH at its highest point in more than three weeks, captivating the attention of traders and analysts alike.
As a result, the focus is now on key levels as the price action approaches resistance, a critical aspect of technical analysis in cryptocurrency trading. The ETH/BTC pair has bounced off the 21-Day Moving Average and is currently trading near 0.035 BTC, indicating a potential trend reversal.
Support Holds, Momentum Builds
Noted crypto analyst Michaël van de Poppe described the retest of the support level as “clean” and confirmed that it has held, providing a bullish signal for potential further price increases. He also emphasized the importance of continued ETF inflows in supporting the upward trend, highlighting the interplay between institutional investment and cryptocurrency market dynamics.
“On that level, you want to see some support test to hold, and that happened.”
Furthermore, the chart reveals a demand zone between 0.03 and 0.033 BTC, which has acted as a strong support area since late 2025. As long as ETH trades above this range and remains above the 21-Day Moving Average, the short-term structure is expected to remain stable, suggesting a positive outlook for Ethereum investors.
Van de Poppe also identified the next resistance level between 0.036 and 0.037 BTC, a zone that has previously acted as a ceiling for ETH price movements. A clear break above this resistance could pave the way for further gains, potentially leading to a significant increase in Ethereum’s value. While some analysts anticipate this move, others suggest a short-term pause may occur before any substantial upward movement.
StockTrader_Max believes ETH is still on track to reach $4,100 but suggests a potential pullback could come before that, highlighting the volatile nature of cryptocurrency markets. “A move to the 0.618 FIB could be next at approximately $3,000,” they wrote, pointing to the 50-day Moving Average as a possible back-test level before a move higher, demonstrating the use of technical indicators in predicting price movements.
Sentiment Split Around $3,250
Another analyst, Lennaert Snyder, marked $3,250 as a short-term barrier for Ethereum, underlining the importance of this level in determining the immediate future of ETH’s price. Snyder noted that a clean reclaim of $3,250 on the 4H chart could trigger long positions toward $3,450, while a failure could result in a move to $2,950 to reset the trend, illustrating the impact of market sentiment on price action.
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“Since we’re trading at major resistance here, I’m looking at local market structure breaks,” he said.
A pattern on the 3-day chart may also support further upside for Ethereum, with Trader Tardigrade identifying a double bottom formation. If confirmed, this pattern sets a target near $4,000, offering a bullish outlook for ETH investors and highlighting the role of chart patterns in cryptocurrency technical analysis.
$ETH/3-day#Ethereum has formed a Double Bottom 🔥
If this pattern plays out, it sets the target at $4,000 ✍️ pic.twitter.com/eRsWz35HcH— Trader Tardigrade (@TATrader_Alan) January 6, 2026
Meanwhile, institutional activity in Ethereum remains robust, with BitMine adding over $2 billion in ETH to staking, demonstrating the growing interest of institutional investors in the cryptocurrency. ETF flows also continue to be active, with $168.13 million recorded on January 5, according to SoSoValue data, further indicating the integration of Ethereum into mainstream financial instruments.
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