Jan 30, 2026
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BEARISH 📉 : Ethereum falls below $2,800 amid $1B crypto liquidations
Ethereum has retested its $2,800 support level twice this week amid a broader crypto market decline.
Market Overview
- Global markets lost over $3 trillion in value, impacting stocks, cryptocurrencies, and metals.
- Ethereum dropped 6.9%, staying between $2,800 and $3,300 since the year's start.
- Geopolitical tensions and macroeconomic uncertainty have reduced investor appetite for risk assets.
- The price of Bitcoin fell by 6.2%, reaching a two-month low of $83,934.
- Crypto liquidations surged to nearly $1 billion, with significant actions on Hyperliquid.
ETH Price Analysis
- Ethereum continues trading within a range of $2,600 to $3,350, lacking clear direction.
- Analyst Sjuul suggests waiting for a breakout or breakdown from this range before reacting.
- Trader EliZ describes ETH as being in a "forced equilibrium," without a structural trend.
- Without a confirmed breakout, current movements are viewed as liquidity rotation rather than trend shifts.
Currently, Ethereum is trading at $2,798, marking a 5.3% weekly decline.
