Ethereum has begun the year 2026 with some initial positive momentum and signs of potential price strength. Analysts have identified key levels of support and resistance through which the price in the short run is likely to move.
At the time of writing, ETH is trading at $3,068.26. The ETH saw a 24-hour trading volume of $23.96 billion and a market capitalization of $368.15 billion, reflecting a 2.77% price increase over the last 24 hours.
Ethereum Pushes Higher Toward Breakout Zone
Crypto analyst Lennaert Snyder noted the importance of Ethereum’s attempt to retest the highs around $3,080, which indicates a possible breakout. “It is encouraging to see ETH moving higher as the new year gets started,” the analyst observed.
For those paying close attention to price activity, major levels are becoming increasingly relevant. A breakout above approximately $3,080 could provide a necessary ingredient for a retracement, while a close above on a 4-hour chart could initiate a breakout.
The downside levels that are viewed as an area of interest for reversals are the ~$2,900 levels and the~$2,800 area, which retains untested liquidity for a potential buying interest scenario.
Ethereum Shows Early Strength Signals
Another analyst, More Crypto Online, pointed out that the Ethereum market seems to be establishing a 1-2 pattern for its pricing. Although it seems that the support level is holding strong, there could be the creation of an internal third wave.
Overall, Ethereum is showing signs of strength at the beginning of 2026, as a number of levels continue to be considered in the up and down trends. Market analysts will be keen to monitor these levels as the cryptocurrency tests its momentum.
Also Read | Arbitrum Surpasses Ethereum Mainnet in Activity: Could It Push ARB to $1.24?
Ethereum Weekly Momentum Turns Cautious
RSI on the weekly chart is at 44.43, which is below its signal line at ~48.33. This makes the momentum weak yet stabilizing. ETH is also at $3,071, which is below the short-term MA ribbon and the 20-week SMA of $3,750. ETH is above the 200-week SMA at $2,459.
In MACD, the MACD line is at -109.76, and the Signal line is at -143.13. Both are negative. The histogram is at +33.37, and this is an indication that the bears are losing momentum and may have begun a base-forming phase, although a bullish trend is yet to be established.
Also Read | Ethereum Record Surge: 2.2 Million Transactions and Low Fees Signal Potential $4K Breakout
