Ethereum (ETH) surged to $3,400 on January 14, 2026, amid a broader cryptocurrency market rally, propelled by bullish investor sentiment and substantial staking activity.
Ethereum Sees New Momentum at $3,400
Similar to Bitcoin, Ethereum experienced downward pressure earlier in 2026. However, as crypto spot trading platforms began to show renewed bullish momentum, ETH skyrocketed to a peak of $3,403, significantly surpassing the $3,300 threshold.
As of the writing of this article, ETH had risen by 6% in the last 24 hours, starting the day below $3,280. The cryptocurrency is currently trading within a narrow range of $3,280 and $3,520, with bulls making a breakthrough after a period of consolidation above $3,000.
Remarkably, Ethereum’s staking saw a historic spike, with over 36 million ETH locked, representing nearly 30% of the circulating supply, valued at more than $118 billion at current prices. Additionally, daily wallet creation has reached peak historical levels, and ETFs are seeing new net inflows.
What Lies Ahead for ETH?
ETH has regained a key level and presents a bullish outlook, potentially breaking out of a triangle formation. Other technical indicators, such as the Relative Strength Index (RSI), show a bullish control at 67. The daily RSI is on the rise and, since it has not yet reached overbought territory, buyers have the upper hand.
The Moving Average Convergence Divergence (MACD) indicator also suggests a bullish bias, with the histogram turning green. Furthermore, significant short liquidations have amplified upward pressure as bears cover their positions.
According to CoinGlass data, over $800 million in crypto liquidations were recorded in the last 24 hours, with more than $250 million in ETH alone. Short positions amounted to $218 million versus just over $32 million in long positions. Whether Ethereum can maintain its momentum and target higher levels remains to be seen.
A confirmed hold and close above $3,300 could pave the way for a push toward $3,600-$3,800 in the short term. This outlook is bolstered by optimistic overall market sentiment, with bullish projections for Bitcoin crossing the $100,000 mark, giving ETH buyers hope for a potential retest of prices above $4,000. However, failing to defend $3,300 could lead to a pullback toward $3,100, with support levels below $3,000 situated around $2,850 to $2,700.
John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.
