Ether prices did not remain below $3,000 for long and have returned to the psychological price level.
“That’s a quick turnaround for ETH,” said MN Fund founder and crypto YouTuber Michaël van de Poppe on Wednesday.
The analyst added that the asset has “almost entirely reclaimed the losses of last week against Bitcoin.”
“That’s a strong signal, and I think that there’s more to come as it’s holding a crucial level of support.”
Ether Heading Back to Resistance
ETH prices gained 2.6% on the day to reach $3,028 during the Wednesday morning trading session in Asia. The asset was holding just above the psychological $3,000 barrier at the time of writing.
Ether only remained below this level for six days, and now appears to be heading for the next resistance zone at $3,100.
That’s a quick turn-around for $ETH.
It’s almost entirely reclaiming the losses of last week against Bitcoin.
That’s a strong signal, and I think that there’s more to come as it’s holding a crucial level of support. pic.twitter.com/vmuyYqBRyH
— Michaël van de Poppe (@CryptoMichNL) January 27, 2026
Glassnode analyst Chris Beamish reported on Tuesday that Ether is “trading on a dense cost basis cluster, a key breakeven zone for many holders.”
“Holding here suggests absorption and base building, but a breakdown would move price into thinner support where underwater supply may derisk. Next move hinges on this level.”
Santiment reported on Wednesday that Ethereum’s amount of “non-empty wallets on the network” has now ballooned to over 175 million, a record among all cryptocurrencies.
You may also like:
-
Vitalik Buterin Earns $70,000 Profit on Polymarket Using Anti-Irrationality Strategy -
Ethereum Wallet Count Surges Past 175.5M as Staking Drains Exchange Supply -
Ethereum Layer 2 Base Co-Founder Rejects Behind-the-Scenes Price Manipulation
“As staking continues to be of strong interest, especially while markets move sideways, exchange supply will continue to shrink as well.”
Ethereum Fundamentals Are Strong
Ethereum’s validator network is so strong, and “we see continued demand to become a validator and stake ETH,” said Blockchain Technology Consensus Solutions CEO Charles Allen on Tuesday.
Over the past month, staking withdrawals have dropped to about a one-day wait, while the deposit queue has grown to more than 54 days, he added.
“In simple terms, far more people and companies want to stake ETH than exit. This is a strong signal for network security and validator participation.”
Meanwhile, Bitwise reported that last quarter, companies bought more than 1 million ETH worth $3.5 billion, the number of public companies holding ETH increased 40%, and Ether corporations accounted for 5% of all Ethereum holdings.
“Probably nothing,” they quipped.
SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).
