January 21, 2026

Ethereum is currently trading around 2967, in a weak correction phase after a sharp decline. The overall trend is bearish, but there is a short-term technical rebound demand.

The recent drop was very steep, falling from $3234 to $2910, like sliding down a slide, with all large bearish candles, indicating that the bears have the absolute advantage.

Now it is oscillating between the lower band and the middle line of the Bollinger Bands, still in a downward channel. The 2910 level is the lowest point today and an important support level. If this level is broken, it may continue to fall to 2880. The KDJ indicator has already climbed out of the oversold zone and is approaching the overbought zone. Although the MACD is still in the negative area, the green bars are shortening, and the two lines are showing signs of a “golden cross,” indicating that buyers are gradually entering the market, but a consensus has not yet formed.

Next, Ethereum is very likely to fluctuate between 2910 and 3054. If it can break through 2989 with volume, there is hope to reach 3054; if it cannot break through, it may fall back to 2910.

Short-term suggestion: buy near the retracement levels of 2940–2920, targeting around 2990–3020–3050.

The above is only personal advice for reference. Please follow Jing Sheng Shi Pan's layout for specifics. #以太坊