Ethereum’s $3K dip on January 13, 2026, is seen as a three-wave correction, not a reversal. Traders are watching the yellow support line and the key resistance level at $3,200–$3,300. A break above could push ETH toward $3,400. Low volume during the pullback supports a support & resistance-driven bounce. A volume spike may confirm the next leg higher.
Low-volume dip confirms corrective nature—volume spike could ignite next impulsive rally.
The volatile world of cryptocurrency, Ethereum ($ETH) continues to capture trader attention with its intricate price patterns. According to a recent technical analysis from More Crypto Online, the second-largest cryptocurrency by market cap appears set for another challenge at key resistance levels. As of January 13, 2026, ETH is trading around $3,117, showing resilience after a minor dip that analysts interpret as a corrective move rather than a trend reversal.
Corrective Dip Analysis
The analysis, shared on X (formerly Twitter), highlights a 1-hour chart employing Elliott Wave theory, a popular tool among technical traders for predicting market cycles based on investor psychology. The chart depicts a potential impulsive wave structure upward, labeled with waves (1) through (5), interspersed with corrective ABC patterns. A descending blue trendline acts as overhead resistance, while a yellow support line marks the critical threshold for bullish continuation.
$ETH Another test of resistance seems likely at the moment, at least as long as the price holds above the yellow line. Today´s dip was a 3-wave pattern, which leaves the door open for another test of the red resistance zone. pic.twitter.com/hD8af6QV02
Today’s price action saw ETH dip in a three-wave corrective pattern (labeled A-B-C), which is typically non-trending and suggests the larger uptrend remains intact. As long as ETH holds above the yellow support line—around the $3,070 mark—analysts expect a retest of the red resistance zone, potentially between $3,200 and $3,300 based on Fibonacci retracement levels shown at 38.2% ($3,148), 50% ($3,179), 61.8% ($3,209), and 78.6% ($3,255). Breaking above this could open doors to higher targets near $3,400 or beyond, aligning with the chart’s projected wave (5).
Fibonacci Resistance Targets
This outlook comes amid broader market dynamics in 2026, where Ethereum has benefited from upgrades like enhanced scalability through layer-2 solutions and growing adoption in DeFi and NFTs. However, macroeconomic factors, including interest rate decisions and regulatory developments, could influence sentiment. Traders are advised to monitor volume for confirmation; low volume on the dip supports the corrective thesis, while increasing buys could fuel the upside.
For investors, this setup presents a classic “buy the dip” opportunity if support holds, but caution is warranted. A break below the yellow line might invalidate the bullish scenario, leading to deeper corrections toward $2,900 or lower. As always, risk management is key in crypto’s high-stakes environment.
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