Ethereum (ETH) is now trading near a key range that may decide its short-term move. The $3,300–$3,400 zone is being tested after the asset broke out of key technical patterns.
Breakout Supports Bullish Setup
Analyst Merlijn The Trader has pointed out a few important technical patterns on the 12-hour chart. Ethereum recently broke out of a falling wedge. This type of pattern often appears at the end of a downtrend. ETH has also formed a double bottom, and the neckline sits at $3,300. The asset has broken above this line and is now trying to hold above it.
ETHEREUM HAS THE RECIPE:
Falling wedge.
Double bottom.
MACD flipping bullish.Now we just need one thing:
Hold $3,300 with both hands.
If bulls defend it…
we scare the feathers off the bears and rip to $3,900–$4,000. pic.twitter.com/qdM91hSCsH— Merlijn The Trader (@MerlijnTrader) January 15, 2026
A bullish crossover has appeared on the MACD indicator. Similar past crossovers have led to upward moves. If the price holds above $3,300, the chart suggests a potential move toward $3,900–$4,000. He also warned of a possible drop if ETH cannot stay above the range.
“If rejected: Reload lower, potentially back to $3,000.”
As of press time, the asset is trading at around $3,300, with a 24-hour volume of over $26.5 billion. Over the last 7 days, the price has risen by over 6%, though it shows a slight 24-hour decline. Previous analyst commentary has mentioned longer-term price targets ranging from $4,950 to as high as $6,690.
Furthermore, Lark Davis noted, “ETHBTC is retesting an 8-year downtrend line right now. If it breaks, this could mark a major shift for $ETH and alts.” This could indicate growing strength in Ethereum compared to Bitcoin.
Staking Supply Hits Record Levels
Ethereum staking has reached a new high. Data from ValidatorQueue.com shows that over 36 million ETH is now staked. This represents nearly 30% of the total supply following a gradual and healthy increase in staking.
Crypto Rover commented,
“$ETH staking hits new all-time highs. Validators are confident Ethereum is going to push higher soon.”
Locked ETH reduces the available supply in the market. If demand stays high, reduced supply can add price pressure. This growth suggests that many validators are confident in Ethereum’s longer-term outlook.
New Wallet Activity Increases
Data from Glassnode shows a rise in new wallet addresses on the Ethereum network. Their metric tracking month-over-month activity shows a sharp rise in the “new” wallet group. These are addresses interacting with Ethereum for the first time in the past 30 days.
Ethereum’s Month-over-Month Activity Retention shows a sharp spike in the “New” cohort, indicating a surge in first-time interacting addresses over the past 30 days.
This reflects a notable influx of new wallets engaging with the Ethereum network, rather than activity being… pic.twitter.com/h8Zw7hXOSX— glassnode (@glassnode) January 15, 2026
This shift shows that more first-time users are engaging with the network. The increase could be due to staking, trading, or the use of Ethereum-based applications. This activity shows Ethereum is gaining attention from new users.
Elsewhere, Bitmine Immersion Technologies confirmed a $200 million equity investment in Beast Industries, the company founded by Jimmy Donaldson, also known as MrBeast. The deal is expected to close by January 19, 2026. The move reflects rising corporate interest in blockchain-related ventures.
The post Ethereum Hits Staking Highs as ETH Price Targets $4K Zone appeared first on CryptoPotato.