You Won’t Believe What’s Next for Ethereum After 2 Months of Clowning Around! 🚀🤡

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Alright, folks, buckle up! Ethereum (ETH), the glittering darling of the crypto world, has been playing a game of freeze tag with $2,600 and $3,350 for the past two months. Yep, no clear direction-just a glorified sideways dance. Traders are clutching their coffee, waiting for a breakout that might finally tell us if we’re heading to the moon or just a really expensive trip around the block.

As of now, ETH is lounging around $3,140-up 1% in the past 24 hours but down a smidge over the week. Because, why not? It’s the crypto way. 📉📈

Ethereum’s Range: The Sitcom Nobody Asked For

Since late 2025, ETH hasn’t managed to break free from its Range-o-matic prison. Analyst Daan Crypto Trades humorously observed the patience required here, saying, “Still patiently waiting for either of these levels to be broken.” Yeah, like waiting for the pizza guy during a global pandemic.

Resistance is hanging around $3,350, with support just above $2,630. But don’t get too excited-ETH is still below those shiny moving averages. The Daily 200 EMA is whispering sweet nothings at $3,340, while the 200 MA is chilling higher at around $3,630. Until ETH can close those levels, the trend remains about as clear as a foggy night in Los Angeles.

Meanwhile, analyst Michaël van de Poppe drops some truth bombs, saying ETH is holding onto an important resistance zone that could now-wait for it-become support! The next upside target? A modest $3,800. No big deal. Just your average crypto hopscotch.

On the lower timeframes, ETH is following an upward trendline from its December lows, showing signs of life-maybe. The real party is at $3,800, but beware of liquidity clusters and short liquidations, which are basically the crypto version of ‘beware of the dog’ signs-except these dogs are market moves.

Futures Are Back-and They Mean Business

Good news-or maybe not-futures open interest has bounced back from October’s fiasco, now sitting at 5.07 million contracts, matching pre-crash levels. Meanwhile, spot prices are still nearly 40% below their high of $4,950. So, yeah, everything’s fine. No need to panic. Or do you? 🤔

“$ETH open interest is now back above October 10th crash level. Prices? Still down almost 40%. No matter what, people never learn in crypto. – K A Y (@kay_drake_) January 12, 2026”

The gap suggests traders are piling in, increasing their bets despite the flat price. It’s like déjà vu all over again, except now with more charts and less clarity. ETH’s dance against Bitcoin (BTC) has also started to change, with the “Ethereum market” outperforming since April 2025-just like 2019, but with more memes.

Remember, Ethereum is still above $3,000, forming a Wyckoff masterpiece. Break above $4,000, and we’re talking possible trips up to $5,000 or even $7,000. Pop the champagne-unless it’s just sparkling water, then carry on.

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2026-01-12 16:00