ETH Technical Analysis Report 16 January, 2026
Given the strength of the resistance level 3350.00 and the bearish sentiment viewn across the crypto markets today, ETH cryptocurrency can be expected to fall further to the next round support level 3000.00 (low of the previous correction ii).
- ETH reversed from resistance zone
- Likely to fall to support level 3000.00
ETH cryptocurrency recently reversed down from the resistance zone between the key resistance level 3350.00 (former support from October, as can be viewn from the daily ETH chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from October. The downward reversal from this resistance zone stopped the previous short-term impulse wave 3. This impulse wave belongs to the intermediate impulse wave (3) from November.
Given the strength of the resistance level 3350.00 and the bearish sentiment viewn across the crypto markets today, ETH cryptocurrency can be expected to fall further to the next round support level 3000.00 (low of the previous correction ii).
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