Ether price did not stay below $3,000 for long and has returned to the psychological price level.
“It’s a quick turnaround for ETH,” MN Fund founder and crypto YouTuber Michael Van de Poppe said on Wednesday.
The analyst added that the asset has “almost fully recouped last week’s losses against Bitcoin.”
“This is a strong signal, and it maintains a significant level of support, so I think there will be more to come.”
Ether returns to resistance
ETH price rose 2.6% on the day, reaching $3,028 during Wednesday morning trading hours in Asia. At the time of writing, this asset was just above the psychological barrier of $3,000.
Ether has been below this level for just six days and now appears to be heading towards the next resistance zone at $3,100.
That’s a quick response $ETH.
It is almost fully recouping its losses against Bitcoin last week.
This is a strong signal and holds an important level of support, so I think something more will happen in the future. pic.twitter.com/vmuyYqBRyH
— Michael van de Poppe (@CryptoMichNL) January 27, 2026
Glassnode analyst Chris Beamish reported on Tuesday that Ether is “trading in a dense cost-based cluster that is an important break-even point for many holders.”
“Consolidation here suggests absorption and foundation building, but a breakout could move prices into thinner support and de-risk underwater supplies. The next move depends on this level.”
Santiment reported on Wednesday that Ethereum’s amount of “non-empty wallets on the network” has now ballooned to more than 175 million, a record among all cryptocurrencies.
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“Interest in staking will remain strong and the supply of foreign exchange will continue to shrink as well, especially while markets are moving sideways.”
Ethereum fundamentals are strong
Ethereum’s validator network is so strong that “the demand to become a validator and stake ETH will continue,” Charles Allen, CEO of Blockchain Technology Consensus Solutions, said on Tuesday.
Over the past month, staking withdrawal wait times have decreased to about one day, while deposit wait times have increased to more than 54 days, he added.
“Simply put, there are far more people and businesses willing to stake ETH than want to exit. This is a strong signal for network security and validator participation.”
Meanwhile, Bitwise reported that companies purchased more than 1 million ETH worth $3.5 billion in the last quarter, with the number of publicly traded companies holding ETH increasing by 40%, and Ether companies accounting for 5% of all Ethereum holdings.
“Probably nothing,” they joked.
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