Overview
- ETH trades near $3,000 after a roughly 13% decline between January 19 and 21 that coincided with reported ETF outflows and more than $480 million in liquidated long positions.
- On-chain and reporting sources indicate accumulation by large holders during the drop, with Bitcoinist citing a two-day increase of about 290,000 ETH and Blockonomi highlighting named purchases totaling roughly 44,555 ETH plus a 20,000 ETH OTC buy.
- Technicians track a symmetrical-triangle setup, with a sustained close back above $3,050 as the first tell and heavier resistance around $3,146–$3,164 before any move toward $3,200.
- Failure to hold the triangle’s lower boundary near $2,910 could expose a slide toward supports in the $2,800–$2,610 area as outlined in recent analyses.
- Market structure watchers flag $2,750 as a decisive longer-term support zone that preserves Ethereum’s multi-year uptrend if maintained.