Ethereum
0.47%
Ethereum
ETH
Price
$1,670.19
0.47% /24h
Volume in 24h
$9.96B
Price 7d
Learn more
tried to push above $3,300 this week and failed. The rejection triggered a pullback toward $3,120 as short-term traders locked in profits. This move lands in a market where ETH still rides strong ETF demand and growing institutional interest. Eyes are on the $3,000 level and whether Ethereum price can hold above it.
🚨BREAKING:
BITMINE HAS STAKED 19,200 $ETH WORTH AROUND $61M
BULLISH FOR ETHEREUM pic.twitter.com/StJhUYjZ8E
— BLADE (@BladeDefi) January 8, 2026
ETH is trading around $3,150, down approximately 5% from its recent peak near $3,306 on January 6. This pullback follows a 24-hour trading volume of $23.6 billion on that day, marking one of the highest volume periods recently and signalling sustained market participation despite the dip. Price action like this often appears after fast rallies, especially when Bitcoin also cools off.
The question is now if Ethereum will hold the $3000 level or we will see more selling pressure for this end of the week?
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Ethereum Price Action: Strong Start to the Year, but It Didn’t Last Long
Ethereum hit resistance at $3,300. When ETH couldn’t break through, buyers stepped back, and the price slipped. Right now, ETH trades below its short-term average and momentum points down.
For now, the $3,120 area acts as support. Support works like a floor where buyers tend to step in. ETH already bounced once near $3,123, which shows demand still exists.
If that floor cracks, the next stop sits near $3,080 and then $3,000.
Holding this zone keeps the bigger uptrend intact. Losing it invites possible shakeouts.
This short-term weakness clashes with strong long-term signals. Spot ETH ETFs pulled in $394 million in a single week, with multi-week inflows topping $3 billion and outperforming Bitcoin ETFs.
Jan 8 Update:#Bitcoin ETFs:
1D NetFlow: -6,606 BTC(-$593.17M)🔴
7D NetFlow: +1,580 BTC(+$141.86M)🟢#Ethereum ETFs:
1D NetFlow: +25,608 ETH(+$79.16M)🟢
7D NetFlow: +127,633 ETH(+$394.51M)🟢#Solana ETFs:
1D NetFlow: +26,314 SOL(+$3.53M)🟢
7D NetFlow: +305,808 SOL(+$40.98M)🟢… pic.twitter.com/U3w3GhA38e— Lookonchain (@lookonchain) January 8, 2026
Ethereum also benefits from staking, where users lock ETH to help secure the network and earn yield. Fewer liquid coins often soften deep sell-offs. You can see that trend in rising Ethereum staking activity.
Watch $3,120 closely. Strong bounces here favour continuation higher.
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