On January 15, news reports indicate that Ethereum (ETH) showed a clear rebound momentum in early 2026, with a cumulative increase of about 14% for the year. It first touched the $3400 level since mid-December last year, then slightly retreated to around $3350. During this rally, more than half of the gains occurred on January 13, when US inflation data eased and former President Trump publicly urged the Federal Reserve to cut interest rates. These macroeconomic changes significantly boosted risk asset sentiment.
Although there was some short-term volatility, the long-term bullish sentiment for Ethereum is growing in the market. Garret Bullish, an internal White House analyst, recently released a new analysis predicting significant upside potential for Ethereum prices. He successfully shorted Bitcoin in October 2025 and achieved considerable gains, so his views carry some market reference value.
In his report, Garret Bullish pointed out that Ethereum has re-entered the upward channel that started last April and may be entering the fifth wave of Elliott Wave Theory. His first target price is $5413, with an aggressive scenario pointing to $7155. Based on the current price, this fundamental target implies about 60% upside potential.
He also emphasized that macro and geopolitical factors may continue to be important variables driving crypto assets higher. His research shows that in the context of Middle Eastern conflicts, the crypto market often outperforms expectations. Historical data indicates that within 30 days of a conflict, Ethereum’s average increase is about 27%, reaching 39% within 90 days. Based on this, he believes that ETH’s performance in the first quarter of 2026 is likely to significantly outperform the market average.
Moreover, long-term institutional forecasts are also optimistic. Standard Chartered Bank’s latest report predicts that Ethereum could reach $7500 in 2026, further rising to $15000 in 2027, with a long-term target of $40000 by 2030.
From a relative strength perspective, the ETH/BTC ratio has been steadily rising since December last year, indicating that Ethereum is strengthening relative to Bitcoin. If this trend continues, and with macro liquidity improving, Ethereum’s price is expected to challenge the $4000 level again, even laying the foundation for higher targets in the future.
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