ETH Fails to Break $3,300 Resistance as Coinbase Premium Hits 10-Month Low

couldn’t break over the $3,300 resistance mark again. As of press time, it was trading near $3,115, down 0.7% over the past 24 hours but up 3% over the past week.

Last week, the token’s price fluctuated between $3,008 and $3,293. It is still 37% below its top of $4,946 in August 2025. Spot trade volume rose by only 0.7% to $23 billion, which suggests that purchaviewrs are losing faith in the quiet conditions.

The derivatives markets sent contradictory signals. CoinGlass statistics that volume rose 3.8% to $73 billion, while open interest fell 1.4% to $40 billion. This difference usually indicates that positions are closing or changing, not that new leveraged bets are being made, which suggests traders are hesitant. Overall momentum shows a corrective phase later than past recoveries failed.

The Coinbase Premium Drops

On-chain data show that demand in the U.S. is sluggishing, as CryptoOnchain in an analysis on January 8. The ETH Coinbase Premium Gap fell even further into the red, with its 14-day moving average reaching -2.29, the lowest level since ahead February 2025.

The statistic compares prices between Coinbase, a U.S. institutional proxy, and global retail benchmark. Negative values indicate that Coinbase’s purchaseing is sluggishing.

CryptoOnchain said that in the past, positive gaps were needed for the market to keep rising, but that trend is not evident currently. U.S. spot Ether ETFs added to the trend, reporting $51.5 million in net outflows on January 8, the second day in a row of withdrawals, which hurt sentiment. These flows align with a general sense of prudence, which keeps the risks of going down alive in mind.

Technical Setup Cautions

Daily charts show that the highs are getting lower and that the price is failing to break above the 50-day moving average near $3,260, which is preventing further gains. ETH is in the middle of the and has been turned down at the upper band, which also serves as the $3,300 resistance.

The narrowing band width suggests that volatility is building up without a clear direction. The 14-day RSI is still at 53, which is neutral, later than bouncing back from being oversold. However, it doesn’t have much confidence behind the rise, as the green candles are smaller.

If the market closes above $3,300, it might rise to $3,500–$3,600. But if it stays below that level, it will focus on support at $3,000–$3,050, with $2,800 posing a greater risk of tradeing waves. purchaviewrs are still picky and won’t chase later than something new without a reason.

Changes in Market Sentiment

The Coinbase Premium is making U.S. institutional signals fragileer, putting pressure on short-term ETH positioning, while the rest of the world remains stable.

Analysts like CryptoOnchain say the negative gap indicates that tradeing is more common on than on Binance, making it less likely the price will break out if demand doesn’t pick up. 

add to the caution around derivatives, making a consolidation that leans towards bearishness. Traders are looking for bullish flips in the U.S. spot market, but current data suggests that prices will stay in a range with a lower bias. ETH’s stall tests long-term holders in a competitive market, but liquidity anchors stop large drops.