With a record share of Ethereum’s supply share locked in staking and available liquidity being tight, Ethereum price is hovering below a major breakout zone.
summary
- Ethereum is consolidating below $3,400 as volatility subsides and momentum cools.
- Piling out Ethereum It has reached a record level of 30% of total supply, reducing circulating liquidity.
- Derivatives activity has slowed, indicating caution rather than aggressive positioning.
Ethereum is trading at $3,162 at the time of writing, down 1.3% in the past 24 hours. Last week, prices hovered between $3,119 and $3,379. Ethereum The stock is up about 3.6% last month after rallying above $3,000, but is still well below August’s all-time high of $4,946.
Trading activity slowed. Ethereum (Ethereum) 24-hour trading volume fell by about 19% to $20 billion, indicating fewer active traders at current levels.
CoinGlass futures data shows a similar trend. Derivatives trading volume fell more than 22%, with open interest down 2% to $40.26 billion. This suggests that traders are reducing leverage rather than taking positions in preparation for sharp moves.
Staking reaches new highs
While price trends have cooled, Ethereum staking activity continues to grow. According to data shared by Solid Intel on January 20, nearly 30% of the total Ethereum What is currently in circulation is at stake.
Intel: $Ethereum Staking has reached an all-time high, with almost 30% of total supply currently staked pic.twitter.com/zVleJbJpTA
— Solid Intel 📡 (@solidintel_x) January 19, 2026
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Approximately 36.2 million in total Ethereumworth nearly $120 billion at recent prices, is locked into the network. Staking returns have gradually declined and currently hover between 2.8% and 4%. Ethereum Enter the system.
Still, steady inflows suggest that many holders are focused on long-term participation rather than short-term price movements.
Queue data supports that view. Over 2.6 million Ethereum are waiting to be bet, but few are waiting to finish. This imbalance indicates strong confidence and low interest in unlocking funds.
Major companies are also participating. The continued expansion of staking holdings by companies like BitMine suggests that institutional investors view staking as a core strategy. Although some analysts have expressed concerns about centralization, the overall outlook for staking remains positive.
Ethereum price technical analysis
Ethereum is trading just below the $3,350 to $3,400 zone, an area that has repeatedly limited recent gains. The price movement is narrowing, indicating consolidation rather than a clear trend.
ETH reaches 30% of all-time high? -1″>
Ethereum daily chart. Credit: crypto.news
The Bollinger Bands are narrowing, indicating a decrease in volatility. Although this does not indicate the direction of the next move, such squeezes are often preceded by stronger breakouts. Ethereum is also near the midpoint of the band and typically reflects the lateral phase.
Ethereum remains above its 50-day moving average, which has served as a floor on several recent declines. The overall structure remains intact, as each rally attracts buyers and the bar often moves higher and higher.
The momentum has not dropped dramatically, but it has eased compared to previous stages. The daily RSI is currently just above 50, nearing neutrality, indicating not much pressure from sellers and some hesitation from buyers.
Volume remains low and recent attempts to move higher have not made much progress. A daily close above $3,400 cleanly would shift momentum and pave the way for the $3,650-$3,800 range.
However, a pullback from $3,050 to $3,100, where there had been buying interest, could result from repeated failures at the resistance level. Overall, Ethereum is currently in a holding pattern.
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