Ethereum is facing key resistance, with strong bullish momentum, while liquidation data highlights ongoing market volatility.
The first week of 2026 has seen Ethereum (ETH) trading at $3,253.44, down a modest 1.2% in the last 24 hours. With a market cap steady at $392.7 billion and a robust 24-hour volume of $28.85 billion, ETH holds its no. 2 rank firmly.
Ethereum has gained 9.5% over the past 7 days and 11% in the last 14 days, reflecting strong positive momentum.
A CoinGecko chart shows a positive momentum, particularly from January 6, with a sharp price increase before stabilizing above $3,240. Given the bullish trend, Ethereum’s price could continue to rise, particularly if it breaks the immediate resistance levels above $3,300.
Ethereum Price Analysis
Ethereum is currently testing key Fibonacci retracement levels as it approaches potential resistance at $3,303, which aligns with the 0.786 Fibonacci level. The recent price action shows a strong rally, but ETH is facing a challenge at this level, which could act as an overhead resistance.
The next significant resistance level is the $3,447 area, marking the top of the current range. If Ethereum can close above $3,303, it may confirm a breakout and could target higher levels, potentially pushing toward the $3,400–$3,600 zone.
On the downside, ETH has established $3,190 as potential support, marked by the 0.618 Fibonacci retracement level. If Ethereum experiences a pullback, this area will likely act as a critical floor, providing buying support. A drop below this level would open the door for further declines towards $3,100 or $2,980, the next key Fibonacci levels.
The Awesome Oscillator also supports this, with green bars indicating bullish momentum as long as the market remains above these support zones.
Ethereum Liquidation Data
Ethereum’s futures market, albeit punishing the bulls, continues to show strong volatility and potential for price swings. Over the past 24 hours, $101.83 million in total liquidations occurred, with $56.65 million coming from long positions and $45.18 million from short positions.
In shorter time frames, long positions consistently lead the liquidations, such as in the 4-hour and 1-hour windows, where $7.60 million and $7.21 million worth of long positions were liquidated, respectively. The significant pressure on long positions suggests a bullish bias in Ethereum’s price action, but the high liquidation figures are a sign of caution.
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