Ethereum price held firm above the $3,200 level on Tuesday, reflecting sustained short-term bullish momentum and increasing buyer confidence.
BitMine staked 2.5 billion in ETH recently, which is an indication of increased institutional desire, and this will further push the trend upwards. Ethereum technical indicators are also positive as the momentum is developing.
The four-hour chart is on an upward slope, which reflects the strength of market structure. Buyers keep pushing up with an improved sentiment.
In the entire crypto market, a 1.42% rise in the last 24 hours added to investor confidence. Bitcoin price was trading at $93,000, and XRP rose 10%.
Sui price rallied 20%, and other altcoins such as Solana and Dogecoin also exhibited an upward trend. This larger-scale wave highlights the increasing power in the digital assets, spearheaded by Ethereum.
BitMine Stakes Another $604M in ETH, Pushing 10-Day Total to $2.51B
BitMine has just staked 604.5 million Ethereum today, which is again another giant step in only 10 days of action. This leaves the total amount of ETH staked by BitMine at a very impressive 2.51 billion.
BitMine staked $604,500,000 in $ETH today.
In just 10 days, BitMine has staked $2,510,000,000 in Ethereum. pic.twitter.com/hxeJchcS7F
— Ted (@TedPillows) January 6, 2026
On-chain records indicate various transactions of BitMine wallet where the deposits were between $68 million and 91 million. This aggressive hoarding is an indicator of high institutional belief.
Analyst Says Ether Pattern Signals Possible $4K Breakout
Ethereum price was on the rise, with a three-day chart indicating a forming double bottom formation.
The arrangement indicates recurrent defenses of buyers at strategic points of support. Analysts indicate that confirmation lies in a sustained break that is above the close resistance.
Should follow-through occur, the technical prognosis of this trend shows that there may be an upside trend to the $4,000 area.
$ETH/3-day#Ethereum has formed a Double Bottom 🔥
If this pattern plays out, it sets the target at $4,000 ✍️ pic.twitter.com/eRsWz35HcH— Trader Tardigrade (@TATrader_Alan) January 6, 2026
How High Can ETH Price Go?
The ETH price climbed to $3,236 on January 6, 2026, reflecting a 0.58% gain in the last session.
The Moving Average Convergence Divergence (MACD) indicates continuity in the bullish direction, since the blue MACD line remains above the signal line.
In the meantime, the Relative Strength Index (RSI) is at 76, far above the overbought level of 70, which shows that it is very strong.
Ether price has a very robust resistance band within the range of $3,280 and $3,300. A clean breakout above $3,300 could extend gains toward the next key level at $3,500 as a Long-term ETH projection remains bullish.
If bulls lose control, downside pressure could drag ETH back toward this level.