Ethereum Morning Strategy on January 23, 2026

Market sentiment remains pressured, with short-term consolidation and recovery.

Currently, ETH is trading around 2960. Market sentiment is mainly influenced by two factors: first, as the Spring Festival approaches, some investors are taking profits and locking in gains. Coupled with recent Bitcoin fluctuations, this has led to outflows of funds from ETH; second, expectations for an Ethereum ETF still exist, but there is a lack of new positive catalysts in the short term, leading the market into a wait-and-see consolidation phase.

After touching a low of 2904, the price rebounded and is now oscillating around 2959. The KDJ indicator is in a neutral to bullish zone, and the MACD histogram continues to expand, indicating that the rebound momentum still exists. The middle band of the Bollinger Bands provides short-term support, while the upper band acts as immediate resistance.

In the short term, the market is mainly consolidating and repairing. Support levels are focused on the 2940-2950 range. After a pullback and stabilization, traders can consider adding long positions with light holdings. Resistance levels are at 2965-2980; if these cannot be effectively broken, caution is advised for a second correction risk.

It is recommended to consider accumulating on dips around 2930-2910, with targets near 2985-3020-3050.

The above is only personal advice and for reference only. It does not constitute investment advice. Please follow Cheng Jingsheng's and Shi Pan's layout for specific strategies!!!