Ethereum Price Prediction: $3,060 Break Could Unlock a $3,180 Move

Ethereum is starting the new year in a steady sort of mode, the price hovering near $2,982 after a 0.5% loss over the last 24 hours…

•

Register now to be able to add articles to your reading list.

” aria-hidden=”true”>

Quick overview

  • Ethereum’s price is currently around $2,982, experiencing a slight decline of 0.5% over the last 24 hours.
  • The cryptocurrency is trading within a descending channel, with key resistance at $3,060 and support around $2,900.
  • Recent price action shows a tightening range, indicating a potential shift in market sentiment as traders analyze technical setups.
  • Momentum indicators remain neutral, suggesting that a decisive breakout or continued range-bound trading is imminent.

Ethereum is starting the new year in a steady sort of mode, the price hovering near $2,982 after a 0.5% loss over the last 24 hours, with trading volumes still high at around $14.5 billion. Despite the rather modest tone, Ethereum remains one of the bigger players in the crypto space, coming in as the second largest asset out there with a market cap of a good $360 billion – it’s worth noting there’s around 120.6 million ETH in circulation.

The price action over the past while has been looking more cautious than outright weak. After a wild December, Ethereum has settled into a tighter range as traders take stock at the start of 2026.

With the rest of the crypto markets still trying to figure out some of the bigger-picture stuff and holiday-related trading still having an impact, it’s getting to a point where traders are starting to take a closer look at the technical setup.

Ethereum (ETH/USD) A Descending Channel Defines the Immediate Trend

On the 4-hour chart, ETH is still trading within a descending price channel that has held since mid-December. The upper boundary of this channel has consistently capped any rallies we’ve seen, and the fact that we’re getting higher lows suggests the selling pressure is easing a bit.

The most recent candlesticks have a bit smaller bodies and a bit more compressed ranges; this is a sign that volatility is actually starting to contract.

It is currently stuck in the $2,970-$3,000 range, an area reinforced by a 50-period EMA and a short-term pivot. This clustering of technical levels is why we’re seeing price struggle to break decisively in either direction.

Key Ethereum Levels: $3,060 A Critical Resistance Zone, $2,900 A Support Horizon

Looking at Fibonacci retracements from the December rally, $3,060 is a pretty big upside barrier, and in fact, it aligns with the 38.2 percent retracement and channel resistance. A clean break above this zone would likely get momentum buyers on board and would probably open the door towards $3,180.

On the downside, channel support is rising towards $2,900, while some deeper Fibonacci support is close by at around $2,910. As long as ETH holds above this area, we’re looking at corrective pullbacks rather than a major trend break.

Ethereum Price Chart - Source: Tradingview
Ethereum Price Chart – Source: Tradingview

Momentum indicators are still neutral. The RSI is around 55, which suggests a mild bullish bias, but we’re not seeing the kind of strength we’d expect before a sustained breakout.

Key technical takeaways are:

  • Resistance at $3,060, then $3,180
  • Support at $2,910-$2,900
  • The trend is a descending channel, with a tightening range
  • Momentum is neutral on the RSI, no exhaustion signals

What Traders Are Watching For

As full market liquidity returns after the New Year break, Ethereum is approaching a decision point. A confirmed break above $3,060 would probably shift sentiment in a pretty big way, while continued rejection keeps eth range-bound into early January.

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.

His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.

His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles



Source link

Visited 1 times, 1 visit(s) today

Related Article

5 Oversold AI Stocks: Where Wall Street Analysts Are Spotting 50%+ Upside

The AI selloff has opened a wide gap between share prices and Wall Street’s expectations. Some of the stocks below have lost nearly half their value in 30 days, while their average analyst targets still imply gains well above 50%. It sounds like an opportunity but can also mean the market has moved faster than

Is Nike Still a Growth Stock? Here’s the Answer.

By now, Nike (NYSE: NKE) shareholders are well aware that the company’s fiscal 2027 could be a tough stretch. In the company’s 2027 first-quarter earnings report, revenue fell 4% year over year to $11.2 billion, and net income slid 2% to $712 million. The athletic wear giant has been in the midst of a turnaround

Banner

UK police arrest 15-year-old boy for photoshopping local politician into rabbit

West Midlands Police in the United Kingdom, on August 3, detained a 15-year-old boy identified only as Fraser, for allegedly mocking a local politician, Simon Bennett, in social media posts, including one that photoshopped him into a rabbit. Police officers stormed the teenager’s family home in the early hours of the day while he was

Jim Cramer’s Case for “Accidental High Yielders” When the Fed Shakes the Market

Quick Read Verizon’s 6.3% yield is backed by strong coverage, with dividends consuming only 57% of EPS guidance and 58% of first-half free cash flow. T. Rowe Price’s quarterly dividend grew from $1.24 to $1.30 while its share price fell 37%, but $56.9 billion in 2025 client outflows signal real business damage. Cramer calls accidental

Verizon (VZ) Stock Looks Reasonable After A 62% Three Year Gain

Verizon Communications has delivered a strong multi year share price gain, leaving investors asking whether the current US$44.66 stock price is fully supported by the earnings the business is generating today. Over the past 3 years the stock has returned 62.4%, which puts more weight on the question of how closely its market value now

Air pollution, chemicals fuelling South Asia’s diabetes and heart disease crisis: Lancet paper

Diet and sedentary lifestyle only explain part of South Asia’s health epidemic. A new paper on Lancet argues that environmental exposure, including air pollution, endocrine-disrupting chemicals, and climate-related stress, is driving the surge in diseases Excess calorie consumption and physical inactivity are often cited as the main drivers of obesity, diabetes and heart disease. Yet,

Top 10 Best Places in the World to Visit in 2027

From Canada’s historic cities and coastal landscapes to Europe’s lesser-known cultural destinations, 2027 is shaping up to be an exciting year for travellers looking to explore somewhere different. While famous tourist hotspots continue to attract millions of visitors, destinations offering authentic local experiences, natural beauty, and distinctive cultural heritage are becoming increasingly appealing. The destinations

Storm Boelo causes chaos at Stansted as ‘do not travel’ warning issued | News UK

Back-to-back storms are causing havoc on the railway this weekend (Picture: Shutterstock/David Cold Weather) If you’re hoping to get to Stansted Airport this weekend, you may have to find alternative means thanks to Storm Boelo. Stormy weather disrupted Stansted Express services today, with a ‘do not travel’ warning issued. Yesterday evening, Greater Anglia said a

Can GigaCloud Technology (GCT) Stay Below Fair Value On Cash Flow?

GigaCloud Technology has delivered a very strong share price run in recent years, which naturally raises a question for anyone looking at the stock today. Are the cash flows behind GigaCloud Technology robust enough, and predictable enough, to support where the share price now trades? Over the past 3 years, GigaCloud Technology has produced a

Is MP Materials Stock a Millionaire Maker?

MP Materials (NYSE: MP) has ample long-term growth potential, but can it become a “millionaire maker?” Trading at a nearly $7 billion valuation, the company has grown very far, very fast, making it questionable whether a small investment can grow into a $1 million position. Yet while MP Materials stock may not make you a

Caterpillar Is Quietly Becoming an AI Stock. Here’s the Segment Growing 72% That Proves It.

When most people think of Caterpillar (NYSE: CAT), they think of the iconic yellow tractors, harvesters, and other farm equipment that have powered American agriculture for over a century. And of course, the company is also known for its construction equipment, including backhoes, bulldozers, and excavators (also yellow), among many other types of heavy equipment.

Applied Materials Sinks 17% in a Week After a Forecast-Free Investor Day: “Tremendous Confidence”

Applied Materials Sinks 17% in a Week After a Forecast-Free Investor Day: “Tremendous Confidence” ©@Kittipong Jirasukhanont from PhonlamaiPhoto’s Images via Canva, @Iulian Catalin’s Images via Canva Key Takeaways Applied Materials stock has declined 24% since October 12, including a 6.7% drop following its October 13 investor presentation. Management outlined ambitious 2030 profitability targets but declined

1
0
Would love your thoughts, please comment.x
()
x