Ethereum

Ethereum has extended its decline from the $3,200 resistance, breaking below $3,000 and the 100-hourly Simple Moving Average while testing lows near $2,910. With a bearish trend line capping price around $3,020 and major support clustered near $2,880, ETH faces the risk of further losses unless buyers can defend this zone and trigger a rebound toward $3,120–$3,150.

Bitcoin and Ether revisited more-than-two-week lows as markets reacted to US President Donald Trump's new tariff threats. On Tuesday, the S&P 500 fell 1.9%, gold hit a record, and total crypto capitalization slipped to $2.71 trillion, down from nearly $3 trillion the prior Wednesday.

Since January 6, ETH net taker volume has posted a $390 million positive imbalance, the largest buy-side skew since January 2023. CVD stands at -3,676 ETH and price is holding above $3,000, while Hyblock reports roughly $540 million in net longs near $3,100. These signals indicate renewed futures participation, with trend resilience hinging on daily closes above $3,000.

Swissblock said a key market-cycle gauge for Ethereum has shifted to "predominance," echoing leadership seen in Q2 2025. Staked supply has reached 47% (77.85 million ETH) as BitMine added 1.7 million ETH worth $5.56 billion in recent weeks. CoinShares also noted $496 million of ETH inflows into U.S. spot ETFs last week.

Ethereum is showing a strong on-chain accumulation band between $2,772 and $3,119, suggesting a key support area above $3,000. According to analyst Ali Martinez, many holders last bought ETH in this zone, which could limit downside risk unless price breaks decisively below $2,772. A sustained move above $3,119 may reinforce bullish momentum, while a drop under the range alongside ETF outflows could trigger a deeper correction.

An official Ethereum update on January 19 said adoption by major institutions has accelerated, with 35 firms — including BlackRock, JPMorgan, and Fidelity — launching products on the network. Recent releases span tokenized stocks, money market funds, stablecoins, and bank deposits, alongside activity by JPMorgan, Societe Generale, Stripe, SoFi, and Google.

On January 15 in Las Vegas, BitMine Immersion Technologies secured 81% shareholder approval to boost its authorized share count, backing its equity-funded plan to grow its Ethereum holdings. The firm now holds 4,203,036 ETH, or about 3.48% of the 120.7 million ETH in circulation, while BMNR shares closed 8% lower at $28.35 on January 20 with heavy, though below-average, trading volume. BitMine also detailed a $200 million investment agreement in Beast Industries linked to Jimmy "MrBeast" Donaldson, which is expected to close this week.

At the start of 2026, Galaxy Head of Research Alex Thorn highlighted a death cross on the ETH/BTC daily chart as the 50-day moving average fell below the 200-day moving average. While the signal went largely unnoticed amid early-year optimism, Ethereum has since dropped harder than Bitcoin, with sharper price declines and larger 24-hour liquidations as the market sell-off accelerates.

Two large Ethereum wallets opened opposing leveraged positions within hours: a 4x short on about 3,840 ETH with a $3 million USDC deposit (worth approximately $11.86 million), and a 12x long on 10,000 ETH funded by 7.38 million USDC (valued near $30.92 million). ETH remains below the 200 EMA, and volatility risk is elevated.

On January 20, 2026, Makina Finance suffered a flash-loan exploit that drained about $5 million from its DUSD/USDC Curve pool through oracle manipulation. According to CertiK and TenArmor, the attacker borrowed 280 million USDC at 03:40 UTC, used 170 million USDC to skew the oracle, then traded 110 million USDC and later moved 1,299 ETH. Makina said only DUSD LP positions on Curve were affected and urged withdrawals.