Ethereum (ETH) surged above $3,100, reclaiming key levels and signaling renewed bullish momentum in the cryptocurrency market as investors eye fresh upside opportunities.
The breakout comes after a period of consolidation, with traders now watching the $3,020–$3,050 zone for signs of support. Market analysts suggest that holding this level could pave the way for Ethereum’s next upward move, highlighting strong trend structure and improving ETH/BTC momentum.
ETH Price Action Overview
On January 2, 2026, Ethereum (ETH) broke above $3,100, marking a technical recovery amid a mixed cryptocurrency market. As of this writing, ETH trades near $3,101, reflecting a modest pullback from the breakout high. The 24-hour trading volume exceeds $17 billion, demonstrating continued market engagement, though volumes remain light compared to previous breakouts.
Ethereum (ETH) eyes a rebound after breaking $3,100, testing the $3,020–$3,050 support zone before its next potential leg up. Source: @TedPillows via X
Trader and analyst Ted (@TedPillows) highlighted the importance of Ethereum’s current support, stating, “$ETH broke above $3,100 yesterday and is now slightly coming down. I think a retest of $3,020–$3,050 zone could happen here. If Ethereum holds this level, the next leg up will start.”
This observation points to the $3,020–$3,050 zone as a critical area where prior resistance may now serve as strong support, a pattern common in post-breakout retests.
Technical Analysis and Market Structure
Market analyst Crypto_Scient (@Crypto_Scient) observed that Ethereum experienced a clean breakout from a choppy 4-hour range, though a brief pause over the weekend would not be surprising. He noted, “Any retest into the range highs to confirm the breakout is an area I’m comfortable adding, looking for continuation.”
Ethereum (ETH) pauses after a clean 4-hour breakout, eyeing a retest of range highs before a potential move toward $3,250–$3,300. Source: @Crypto_Scient via X
According to Crypto_Scient, Fibonacci extensions suggest a potential move toward $3,250–$3,300, but these projections are contingent on successful price acceptance above former resistance. A failure to hold the $3,020–$3,050 zone could invalidate these targets, potentially leading to extended consolidation or a short-term correction.
Historically, Ethereum breakouts above major psychological levels often require two or more successful retests before a durable trend develops, particularly during low-volume periods. This behavior differs from Bitcoin, which can sometimes sustain momentum after a single breakout confirmation.
Community Sentiment and Context
Market sentiment remains cautiously optimistic. Trader commentary on social platforms reflects sentiment rather than authoritative guidance. Observers note that ETH/BTC momentum and clean trend structures support the bullish thesis, while light trading volume and weekend liquidity may increase short-term volatility.
Analysis by Golden Candles is for informational purposes only; always do your own research before making trading decisions. Source: Golden_candle on TradingView
Analyst Golden_candle also adds a standard disclaimer for transparency: “The analysis shared is for informational purposes only and should not be considered financial advice. Always do your own research before making any trading decisions.”
It is important to contextualize figures: the $3,100 price and $17 billion trading volume represent current market conditions rather than fixed reference points, and prices may fluctuate intraday or over the coming days.
Final Thoughts
Ethereum’s behavior around $3,100 underscores the importance of support testing and historical context. Traders and analysts should monitor the $3,020–$3,050 zone closely. A confirmed hold could signal gradual continuation toward $3,300, while failure may result in extended sideways consolidation.
Ethereum (ETH) was trading at around $3,099, up 0.56% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin
As always, market participants are advised to consider multiple scenarios, monitor liquidity, and exercise caution, recognizing that technical patterns provide guidance rather than guaranteed outcomes.