Ethereum Holds Around $3,100 — Is Technical Pressure Building on ETH?
Jakarta, Pintu News – Ethereum (ETH) briefly traded at around $3,110, up about 0.5% on January 11, with the price movement entering a tight consolidation phase. At first glance, this movement seems simple. But underneath, the market structure suggests that something more intentional is taking shape.
Since late December, ETH has consistently registered higher lows, staying above the uptrend line despite several attempts to break downwards. This pattern usually reflects accumulation, not market exhaustion, especially when prices continue to hold above key support zones.
Then, how will Ethereum price move today?
Ethereum Price Up 1.80% in 24 Hours
As of January 12, 2026, Ethereum was trading at approximately $3,144, or around IDR 53,150,202 — marking a 1.80% increase over the past 24 hours. Within the same period, ETH had dipped to a low of IDR 52,164,186 before rebounding to its current high.
At the time of writing, Ethereum’s market capitalization is estimated at around IDR 6,330 trillion. Meanwhile, daily trading volume has surged by 83% over the past 24 hours, reaching IDR 201.38 trillion.
Read also: Bitcoin Holds Steady at $91,000 — Is EMA Support Signaling a Bullish Trend?
Rising Staking Queues Signal Tightening Supply
On-chain data provides an important layer in Ethereum technical analysis. Based on data from ValidatorQueue, the queue for staking in the Ethereum Beacon Chain has jumped to 1.759 million ETH – equivalent to about $5.5 billion – the highest amount since August 2023. New validators now have to wait more than 30 days before activation.
At the same time, the exit queue dropped to zero, meaning there was no significant influx of stakers looking to withdraw.
Simply put, more ETH is in line to be locked up, while no one is preparing to exit. This dynamic reduces the available liquid supply, just as the price starts to press the resistance area.
Ethereum Price Prediction: Technical Chart Structure Shows Growing Pressure
Technically, Ethereum price predictions are “rolling up” or forming a suppression pattern. The price is sandwiched between the uptrend line and the downward band formed by the 50 and 100 exponential moving averages (EMAs), which are now flat around the $3,110 level. This convergence is often the first sign of volatility expansion.
Momentum indicators support this scenario. The RSI has recovered from oversold territory and is now above 55, indicating strengthening buying pressure without overbought conditions.
Candlestick patterns in the past few sessions showed a long lower tail in the $3,050-$3,070 range, reinforcing the signal that buyers started to enter early instead of waiting for a deeper drop.
Read also: 3 Reasons Why XRP Price Could Soar Above $3, According to Latest Analysis!
Ethereum Trading Outlook Hinges on Breakout Above $3,180
Based on TradingView’s projected path, a steady close above the $3,180 level is likely to confirm a breakout, which opens up an upside opportunity towards $3,250, followed by a retest of the $3,300 area. If momentum picks up, a continuation to the $3,380-$3,420 level is a reasonable technical target.
From a trading point of view, the current market structure favors a patient approach over mere speculation. The strength of the price being able to break through resistance is much more important than mere anticipation.
With staking demand on the rise and the price narrowing, Ethereum doesn’t look like a market that’s running out of steam, but rather one that’s gearing up for its next phase of growth – this is often the best time to start building positions early.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Crypto News. Ethereum Price Prediction: ETH Near $3,110 as $5.5B Staking Queue Builds a Breakout Case. Accessed on January 12, 2026