Ethereum Loses Out On $116 Million, But Price Remains Steady Above $3,000

Ethereum's price is struggling to break out of a tightening triangle pattern, hindered by institutional behavior and broader macro pressures. Institutional investors withdrew $116 million from Ethereum in the week ending January 9, which limited upside momentum even as the price attempted to stabilize. Furthermore, on-chain data indicates a shift in retail holder behavior, with the exchange net position change printing a green bar, signaling increased selling activity for the first time in over six months. Currently trading near $3,134, ETH faces downside risk toward $3,000 due to these outflows and inflows to exchanges. A break below $3,000 could expose $2,902, invalidating the current pattern, while holding $3,131 as support could lead to a rally toward $3,287 or a more realistic target of $3,441.

(Source：BeInCrypto)