The post ETH Technical Analysis Jan 22 appeared on BitcoinEthereumNews.com.

Volume story – what participation tells us about conviction Volume Profile and Market Participation ETH’s 24-hour trading volume reached 26.97 billion dollars, indicating participation about 15% above the 7-day average volume. Despite the price rising 1.92% under downtrend dominance, this volume increase shows the market drawing an indecisive profile in terms of conviction (determination). Examining the volume profile, the POC (Point of Control) level is concentrated around 3,050 dollars; this area stands out as the point of highest trading volume accumulation over the last 3 days. From a market participation perspective, volume in down moves has remained higher compared to up moves – for example, volume spikes were observed in the decline waves over the last 24 hours, while volume is relatively subdued in the current 1.92% rise. This signals insufficient participation for a healthy bullish reversal. Short-term volume, 20% below average, reflects retail-focused trading; institutional flows remain hidden at deeper levels. The volume profile’s high volume nodes (HVN) are concentrated in the 3,000-3,100 band, while low volume nodes (LVN) point above 3,200 – weak participation should be expected as price approaches this area. Overall, the volume story supports downtrend continuation; while price alone gives a bullish signal, volume confirmation is lacking. Accumulation or Distribution? Accumulation Signs In the last week’s volume profile, a clear volume increase is observed at the 3,007 dollar support level (score 72/100), signaling potential accumulation zones. While price is suppressed below EMA20 (3,134 dollars), decreasing volume in down moves (dry-up before volume climax) suggests smart money accumulating at lows. Despite RSI at 43.28 in the neutral zone, volume divergence is positive: volume decreases as price falls, a classic accumulation pattern. In MTF context, the 1S/3R breakdown on 1D and 3D timeframes highlights accumulation opportunities at short-term supports. If volume drops below 25 billion dollars and…

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Filed under: News - @ January 22, 2026 3:25 am