Sellers are dominating over buyers at the beginning of 2026, according to CoinStats.
ETH chart by CoinStatsETH/USD
The rate of Ethereum (ETH) has fallen by 1% since yesterday.
Image by TradingViewOn the hourly chart, the price of ETH is in the middle of the local channel between the support at $2,971 and the resistance at $2,993. As neither side is dominating, there are low chances to see sharp moves by tomorrow.
Image by TradingViewOn the bigger time frame, the situation is similar. The volume keeps going down, which means the rate of the main altcoin has not accumulated enough strength yet.
In this case, sideways trading in the range of $2,950-$3,050 is the more likely scenario over the next days.
Image by TradingViewFrom the midterm point of view, the price of ETH is trading within the previous bar, confirming the absence of bulls’ and bears’ strength. All in all, traders are unlikely to see increased volatility soon.
Ethereum is trading at $2,984 at press time.
Source: https://u.today/ethereum-eth-price-analysis-for-january-1
