Based on the latest market data as of January 29, 2026, Ethereum (ETH) is trading within a key range of $2,900 - $3,000.

Below are the core market data compiled from search results:

Current Price

· Price: $2,953.36 USD
· 24-hour Change: -1.72%

Key Price Levels

· 24-hour High/Low: $2,785.90 - $3,040.72 USD
· Recent Core Support Level: $2,880 - $2,920 USD
· Recent Core Resistance Level: $3,000 - $3,050 USD

Market Overview

· 24-hour Trading Volume: approximately $22.822 billion
· Current Market Cap: approximately $356.454 billion

📈 Market Dynamics and Key Events

The current market focus is mainly on the Federal Reserve's (Fed) upcoming interest rate decision, which has become a key macro event influencing short-term prices. Additionally, the market itself exhibits some important characteristics:

· $3,000 Becomes a Focus for Bulls and Bears: The price fluctuates around $3,000, which is widely regarded as a short-term market “center” or “pivot.” Whether it can stabilize above or effectively break below this level is seen as a critical signal for the next move.
· High Leverage and Potential Volatility: Data shows that leverage in the Ethereum derivatives market is at a historical high. This means that any market movement in either direction could be significantly amplified by large-scale liquidations, leading to intense volatility.
· Long-term Investors Continue Accumulation: Despite short-term volatility, on-chain data indicates that large holders (“whales”) and institutional investors are still steadily accumulating Ethereum. For example, large staking activities by institutions like BitMine demonstrate confidence among long-term value investors in the Ethereum network.
· Ecosystem Development Provides Fundamental Support: The Ethereum ecosystem continues to develop in areas such as stablecoins, enterprise collaborations, and AI integration, while the total staked value remains above hundreds of billions of dollars, providing fundamental support.

🔭 Market Outlook and Future Trends

Market analysis presents different views on future trends, but generally, $2,880 and $3,000 are considered the two most important technical observation points.

· Bullish Scenario: If the price can effectively break above and stabilize at $3,000**, especially overcoming** $3,050 resistance, the next target could be in the $3,200** to** $3,500 USD range.
· Bearish Scenario: If the key support zone of $2,880 - $2,920 USD is broken, the price may test the $2,700 - $2,800 USD zone. Extremely pessimistic analysts believe that if the technical pattern fails, a deeper correction cannot be ruled out.