Overview
- ETH remains rangebound around $3,300 after a brief push toward $3,400 this week, extending a consolidation pattern that has persisted since November.
- Technical readings flag downside risk with a rising wedge, bearish pennant, and divergence on the daily chart, with analysts eyeing $2,623 support unless a break above roughly $3,500 materializes.
- On-chain metrics strengthened, with 30-day transactions up about 30% to over 58 million and active addresses up about 64% to 13.1 million, alongside robust stablecoin activity and a staking market near $118 billion.
- Capital signals are inconsistent, with some data showing recent spot ETF inflows including about $584 million year to date and $12.9 billion in cumulative net inflows, while other reporting notes net outflows and whales trimming exposure since mid-December.
- Institutions and enterprises are engaging in yield and payments use-cases, with a reported $170 million Sharplink Gaming staking/restaking deployment on Linea, a reported $65 million ETH purchase by Tom Lee’s Bitmine, and Visa piloting on-chain stablecoin payouts.