Ethereum (ETH) went through a sharp period of intraday volatility as values briefly dipped. This affected stop-loss orders before they steadied near the $3,100 level. Market data from major trading networks indicated ETH recording a significant wick on short-term candlestick charts. This reflects the fleeting price movements within a limited time span of the asset.

The action happened between active derivatives trading and elevated short-term volume, indicating the continued sensitivity of ETH price action to liquidity conditions. According to CoinMarketCap, at press time, the token is trading at $3,129.50 with 0.03% increase in rate. The market cap of the coin has exceeded $375.97 billiuon and the volume of the token is around $20.96 billion.

Also Read: Ethereum Holds Near $3,155 as Neutral RSI and Market Fear Keep Upside in Check

Short-Term Price Action Reflects Liquidity-Driven Moves for Ethereum

During the time period, ETH traded down to the $3,060–$3,070 range before rebounding toward $3,100. Technical indicators on lower time frames indicated the token going down many short-term moving averages. Some of those include mostly used exponential and simple moving averages. Such actions suggest periods of consolidation, where price swings between a specific range and short-lived breaches happen as liquidity is tested.

Such sharp downward wicks usually occur during periods of consolidation, where liquidity pockets are tested, and leveraged positions are forced to unwind.

Technical Indicators Turn Mixed

According to the data given by CoinCodex, the 200-day simple moving average in the long run is projected to reach $3,593.14. The 50-day simple moving average (SMA) in the short term is projected to reach $3,034.36. All these figures reflect a gradual but certain movement towards the higher ground.

The Relative Strength Index (RSI) is currently at 53.13, indicating a neutral position, neither excessively high nor excessively low. The pivot points have established the support levels at $3,090.13, $3,058.65, and $3,035.62. The resistance levels of the token are at $3,144.64, $3,167.68, and $3,199.16

The data given by CoinGlass indicates the token performing in a 0.01% increasingly in the past 4 hours. While the 24-hour data shows the coin performing 0.48% decreasingly. Traders and analysts keep observing the liquidity levels, derivatives funding rates, and macroeconomic developments keenly. These could influence the near-term price direction of the token.

Also Read: Ethereum Foundation Highlights Zero-Knowledge Proofs as Strategic Scaling Solution

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Filed under: Bitcoin - @ January 12, 2026 10:14 pm