ETH-BTC Ratio Bottomed in April, Mirrors 2019 Cycle: Analyst

者

Ethereum (ETH) traded at $3,130 as of January 11, 2026, showing a 1.21% gain in the last 24 hours. The price remains above key support levels but faces challenges at short-term resistance. The broader crypto market, including Bitcoin, has contributed to ETH's upward momentum. Institutional involvement and liquidity growth are also supporting the uptrend.

The Ethereum price has remained within a clear daily uptrend, trading in a range between $3,078 and $3,147. Volume increased to $5.24 billion, signaling growing investor interest. Short-term bullish signals from the EMA20 and MACD histogram suggest the trend is intact, though weekly and monthly indicators remain neutral. The ETF-driven inflows and broader risk appetite are key drivers.

Technical analysis highlights a strong support at $3,082, followed by $3,004 and a deeper level at $2,623. These levels will be crucial for ETH in case of a correction. A failure to hold above $3,082 could lead to a psychological test of the $3,000 level. Resistance is near $3,126, with $3,286 and $3,440 as higher targets.

Why Did This Happen?

Ethereum's rise in early 2026 coincides with a broader macroeconomic environment that favors crypto assets. The Fed's interest rate policies and ETF inflows have indirectly increased demand for ETH. Institutional staking yields and layer-2 scalability improvements also contribute to long-term momentum.

Institutional buyers, including those on Coinbase and Binance, have shown mixed signals. The Coinbase Premium Gap has weakened to a 14-day low, indicating reduced demand from U.S. institutional investors. This divergence could delay ETH's breakout above $3,300.

How Did Markets React?

The Ethereum price stabilized after a 3% drop in the previous 24 hours. While the broader crypto market fell 2.2%, ETH's volume and technical indicators remain relatively positive. Retail and institutional flows are both pushing ETH upward, but the balance is delicate.

Morgan Stanley's recent spot Ethereum ETF filing has added a new layer of institutional interest. The product aims to combine price exposure with staking rewards, offering a more attractive proposition for traditional investors. This filing reinforces ETH's integration into mainstream finance.

What Are Analysts Watching Next?

Analysts are closely monitoring key resistance and support levels. A breakout above $3,126 would confirm short-term bullish momentum, while a drop below $3,082 could trigger a correction. The MACD histogram and RSI remain within neutral to positive territory, but divergence risk is present.

Momentum indicators such as ADX and Bollinger Bands suggest the market is seeking a directional breakout. ETH's ADX is above 25, and the +DI trend remains dominant. This structure supports the view that the current movement is not random but rather part of a broader trend.

Investors should remain cautious. A breakdown in technical confluence or divergence in momentum indicators could signal trend weakness. Position sizing and stop-loss strategies are critical given the market's sensitivity to macroeconomic events and regulatory news.