- Ethereum is testing support near the $3,020–$3,050 zone as markets try to stabilize.
- A daily ascending triangle pattern points to a potential breakout above $3,300 with a measured move toward $3,700.
- Javon Marks highlighted an RSI structure tied to past rallies, noting that “Prices of $ETH rallied an average of 123% after the highlighted RSI structure showed up.”
- CoinCodex projects a near-term target of $3,487 by the first week of February 2026, which sits near the path to $3,700 if $3,300 holds.
- Institutional flows may support gains; Farside Investors reported that BlackRock’s Ethereum ETF bought about $102.9 million worth of ETH in the past week.
Ethereum is testing key support in the $3,020–$3,050 zone as traders watch for a resolution to recent volatility. The token has struggled amid shifting economic conditions but shows on-chain and technical signs that analysts say could precede a rally.
Chart analysis shows a daily ascending triangle forming, with immediate resistance near $3,300. If that level breaks, the triangle’s measured move targets the roughly $3,700 area.
Crypto analyst Javon Marks pointed to a recurring RSI structure that has preceded strong moves. He wrote that “Prices of $ETH rallied an average of 123% after the highlighted RSI structure showed up,” and said the pattern is unfolding again. Marks also noted that past instances produced larger gains, writing that “we saw Ethereum climb over 163%, and today, this pattern could initiate another >162% run to our next target above $8,500!”
Technical indicators also show a bullish signal from the MACD, which recently formed a crossover consistent with upward momentum. CoinCodex statistics put a mid-term price estimate at $3,487 by the first week of February 2026, a level that would sit between the $3,300 breakout threshold and the $3,700 measured target.
Possible catalysts cited include rising institutional staking, treasury accumulation, and ETF inflows. According to Farside Investors, BlackRock’s Ethereum ETF purchased about $102.9 million worth of ETH in the past week, and ETF inflows have trended upward to start the year. Ethereum may continue to rally over the coming weeks if market sentiment stays bullish.
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