Ethereum Hits Lows As ETH Price Targets $4K Area

Ethereum is testing $3.3K support after a bullish breakout as staking hits long and new wallet activity rises across the network.

Ethereum (ETH) is now trading near a key range that could determine its short-term movement. The $3,300–$3,400 area is tested after the commodity breaks out of key technical patterns.

Breakout Supports Bullish Setup

Analyst Merlijn The Trader identified several important technical patterns on the 12-hour chart. Ethereum has just broken out of a slump. This type of pattern usually appears at the end of a downtrend. ETH also formed a double bottom, and the neckline remains at $3,300. The stock broke above this line and is now trying to hold above it.

ETHEREUM HAS THE RECIPE:

A falling frame.
Down twice.
MACD turns bullish.

Now we only need one thing:

Grab $3,300 with both hands.

If the bulls defend it…
we ruffled the feathers of the bears and broke through $3,900–$4,000. pic.twitter.com/qdM91hSCsH

— Merlijn The Trader (@MerlijnTrader) January 15, 2026

A bullish crossover appeared on the MACD indicator. Previous similar crossovers have led to upward movement. If the price holds above $3,300, the chart suggests a possible move to $3,900–$4,000. He also warned of possible downside if ETH cannot stay above the range.

“If rejected: Reload below, possibly back to $3,000.”

At press time, the stock is trading at around $3,300, with a 24-hour volume of over $26.5 billion. In the last 7 days, the price has increased by more than 6%, although it shows a slight decrease in 24 hours. Previous analyst comments indicated a long-term price range of $4,950 to as high as $6,690.

Furthermore, Lark Davis noted, “ETHBTC is retesting the 8-year downtrend line right now. If it breaks, this could mark a big swing for $ETH and alts.” This may indicate a growing strength in Ethereum compared to Bitcoin.

Staking Supply Hits Record Levels

Ethereum staking has reached an all time high. Data from ValidatorQueue.com shows that over 36 million ETH are now at risk. This represents about 30 percent of the total supply following a steady and healthy increase in stock prices.

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Crypto Rover commented,

“$ETH figures to reach all-time highs. The bullies are confident that Ethereum will rise soon.”

Locked ETH reduces the supply available in the market. If demand remains high, reduced supply can add price pressure. This growth suggests that many validators are confident in Ethereum’s long-term vision.

New Wallet Function Is Growing

Data from Glassnode shows the rise of new wallet addresses on the Ethereum network. Their month-to-month metric tracking activity shows a significant increase in “newwallet group. These are the addresses that interacted with Ethereum for the first time in the last 30 days.

Ethereum’s Monthly Activity Maintenance shows a sharp increase in the “New” group, which shows the increase in addresses that have interacted for the first time within the last 30 days.
This shows a significant influx of new wallets involving the Ethereum network, rather than activity being… pic.twitter.com/h8Zw7hXOSX

– glassnode (@glassnode) January 15, 2026

This change shows that many early adopters are joining the network. The increase may be due to staking, trading, or the use of Ethereum-based applications. This activity shows that Ethereum is gaining attention from new users.

Elsewhere, Bitmine Immersion Technologies has secured a $200 million equity investment in Beast Industries, a company founded by Jimmy Donaldson, also known as MrBeast. The deal is expected to close on January 19, 2026. This move reflects growing business interest in blockchain-related businesses.