Ethereum (ETH) Price Prediction: Momentum Fades as ETH Struggles to Hold Key Support

Ethereum is currently trading around the $2,850 mark as it continues to struggle for momentum. As mentioned in our previous analysis, the price was expected to face significant pressure if it failed to hold key levels. This outlook was confirmed after ETH saw a strong rejection at $3,400 and subsequently broke below the $3,050 support zone. This decline also mirrors the broader bearish trend across the crypto market, largely fueled by recent downward pressure on Bitcoin. Furthermore, Ethereum has now broken below its primary trendline support, suggesting that bears are in the driving seat right now. The immediate level to watch now is the $2,750 support zone. Let's take a look at the latest charts to see where the price could be headed in the coming days.

Our Ethereum Price Prediction Summary

• Ethereum has lost the $3,050 support level and broken below its primary daily trendline, signaling that bears are now in control.
• The 4-hour chart shows a lack of buying momentum, making a retest of the $2,750 support zone likely in the coming days.
• While the macro trend remains bearish, holding above $2,750 is critical to preventing a further drop toward the $2,400 level.

Analyzing the Charts

Resistance Flip and Support Targets

If we look at the latest 4-hour charts for Ethereum, the first thing to notice is the continuous loss of momentum following the $3,400 rejection. The price has decisively broken below the $3,050 support level and appears to have flipped it into a new area of resistance. There is currently a lack of short-term buying pressure after losing this floor, so we can expect ETH to trade below $3,050 in the coming days as well. The primary level we are watching for a potential bounce is the $2,750 mark, as this area has successfully acted as support on multiple occasions in the past.

Daily Trend and Major Support Levels

Shifting to the 1-day timeframe, we get a clearer picture of where Ethereum is headed next. The chart currently looks bearish, characterized by a series of long red candles following the rejection at $3,400. Not only has ETH flipped the $3,050 support into resistance, but it has also broken below the daily trendline that had been holding the price up for several months.

This breakdown is a strong bearish signal and suggests we might see the price drop below the $2,750 mark in coming days. If that happens, our next major target for ETH will be around the $2,400 level, an area that has historically acted as significant support. This overall outlook is why our current Ethereum price prediction is still leaning toward the bearish side.

Weekly Macro Outlook

Lastly, switching to the 1-week charts for the broader picture shows that the price remains in a downtrend that has persisted since last August. There has not been any significant change on the macro charts to reflect a shift in trend or even a temporary relief rally. However, we can see that the support at $2,750 has been holding for a while and is being tested again while bears clearly maintain their strength. If the price manages to stay above this level in the next few weeks, it will be a positive sign, and there is a slight chance we might even see a relief rally for ETH in February. On the other hand, breaking below it will most likely invite further selling pressure and open the door toward lower levels, extending the current downtrend and ongoing correction.

Final Takeaways: What is Next for ETH?

In summary, Ethereum is under heavy pressure after failing to hold $3,050 and breaking its daily trendline. With the bears firmly in control, the focus now shifts to the $2,750 support zone. If ETH can't maintain this level, we expect the correction to extend toward $2,400. While a small relief rally in February remains possible if support holds, the current technical setup and macro downtrend keep our Ethereum price prediction leaning bearish.