Ethereum Price Prediction: ETH Price Rejected at $3,000—Is a $2,850 Reset Needed Before a Bounce?

Ethereum continues to trade under the closely watched $3,000 level, a zone that has historically functioned as both psychological and technical resistance during previous market pullbacks. In past cycles, similar failures to reclaim round-number levels have often led to extended periods of consolidation rather than immediate reversals. Current Ethereum price news reflects that pattern, with ETH stabilizing below former trend support and signaling a cautious near-term environment rather than a confirmed shift back to bullish momentum.

Short-Term Price Action Below $3,000

The current ETH price is trading near $2,932 as of January 23, 2026, down roughly 2% on the day based on aggregated exchange pricing. After failing to reclaim $3,000 following a breakdown from an ascending daily trendline, Ethereum has repeatedly stalled near this level, reinforcing it as near-term resistance for the eth price today.

Ethereum has broken its prior uptrend and remains unable to reclaim the $3,000 level, increasing the likelihood of a corrective move toward the $2,800–$2,850 support zone before any recovery attempt. Source:@TedPillows via X

Market analyst TedPillows, who frequently focuses on multi-timeframe Ethereum chart structures, noted that “a sweep of the $2,800–$2,850 liquidity zone looks increasingly likely before Ethereum finds a stronger base for the next move.” This area represents a zone where resting bids have previously absorbed sell pressure, making it a key reference point in short-term Ethereum price analysis.

Liquidity Sweep and Market Positioning

Derivatives positioning suggests that downside risk remains present. According to aggregated derivatives dashboards from major exchanges, long/short ratios have hovered near 3.38, signaling a concentration of bullish positioning even as prices weaken. Over the same period, approximately $44 million in long liquidations were recorded across futures markets, reflecting forced deleveraging as the price of Ethereum declined.

Ethereum has shifted to a medium-term bearish structure after breaking its rising channel, with macro headwinds and weak rebounds increasing downside risk toward $2,800 while price remains capped below the $3,050–$3,080 resistance zone. Source: DeGRAM on TradingView

From a structural perspective, Ethereum has already moved below $2,875, triggering a Change of Character (CHOCH)—a technical signal often used to identify a potential shift in short-term trend behavior. While this does not confirm a reversal on its own, it does indicate that aggressive selling momentum has slowed. Follow-through now depends on whether the price can stabilize near the $2,900 area.

Intraday Structure and Key Levels

On lower timeframes, the 1-hour ETH/USDT chart shows repeated reactions near a support band around $2,900, with layered resistance forming near $3,100. DonnieBitcoin, a trader known for short-term ETH structure analysis, noted that “patience on structure is key,” emphasizing that confirmation requires a decisive break rather than intraday volatility.

Ethereum remains below $3,000 but holds above a key breaker block at $2,953–$2,922, where a successful reaction could sustain a recovery attempt, while a breakdown below $2,900 would invalidate the bullish setup despite supportive long-term fundamentals. Source: coinpediamarkets on TradingView

Within this Ethereum technical analysis framework, $2,850 remains a critical downside reference. If this level holds, prior sessions suggest that short-covering and spot demand could support a rebound toward the $3,060–$3,200 range. A sustained break below it, however, would weaken the recovery thesis and reopen lower support zones.

Breaker Block and Trade Structure

Ethereum is currently trading above a bullish breaker block between $2,953 and $2,922—a former resistance zone that has flipped into potential support. Breaker blocks are often monitored to assess whether buyers can defend reclaimed structures during pullbacks.

Acceptance below $2,900 would invalidate this setup and suggest that sellers remain in control, increasing the likelihood of a move toward the $2,800 area. Conversely, a strong reaction from this zone would signal that buyers are still willing to defend higher lows.

Technical Analysis

• ETH/USD has broken down from a rising channel, confirming a loss of bullish momentum after failing to hold the $3,050–$3,080 resistance zone.
  
• Price is consolidating within a broader support cluster between $2,880 and $2,920. Recent rebounds have been shallow, suggesting corrective moves rather than a confirmed trend reversal.
  
• If this support fails on increased volume, the Ethereum price could extend toward the $2,800 region.

Ethereum was trading at around $2,932.709, down 1.88% in the last 24 hours. Source: Brave New Coin

ETH has declined approximately 10.75% over the past week, while remaining modestly higher on a 30-day basis. Technical indicators are mixed, with a neutral RSI and several moving averages reflecting near-term caution.

Looking ahead, analysts note that longer-term drivers—such as regulatory clarity around a potential Ethereum ETF, protocol upgrades, and Ethereum’s growing role in asset tokenization—will shape the broader Ethereum price prediction 2025 outlook. For now, market focus remains on whether Ethereum can defend lower support and re-establish constructive structure before attempting another move higher.