Ethereum price trades near $3,100 at press time as volatility has increased. The price tried to reclaim momentum, yet each rebound stalled near overhead resistance.
Meanwhile, US spot Ethereum ETFs recorded another day of net redemptions on January 9. The flow data added pressure during a week when Ethereum price failed to break out.
Farside data indicates total net outflows of $93.8 million for U.S. spot Ethereum ETFs on January 9. BlackRock’s iShares Ethereum Trust (ETHA) led with $83.8 million, while Grayscale’s Ethereum Trust (ETHE) showed $10.0 million.
Farside’s data also showed net outflows on January 7 and January 8, extending a three-day run. The total outflows were $98.3 million on January 7 and $159.2 million on January 8.
The January 8 session saw ETHA post $107.7 million in outflows and ETHE post $31.7 million. On January 7, ETHE posted $52.0 million in outflows, while several other funds also turned negative.
The January 9 breakdown showed flat flows for several other funds in the table, including Fidelity’s FETH and VanEck’s ETHV. Consequently, ETHA and ETHE drove nearly all of the day’s net movement.
The flows arrived as Ethereum price stayed rangebound, which can amplify sensitivity to any change in demand. However, ETF flows can swing day to day, and they often reflect short-term positioning.
CryptoQuant analysts have highlighted “Accumulating Addresses Realized Price,” which measures the average cost basis of addresses that keep adding ETH. The firm’s framework puts the long-term accumulation cost at $2,700 to $2,800, creating a structural zone for Ethereum price.
CryptoQuant’s approach isolates holders who accumulate across multiple cycles. It treats their cost basis as a proxy for long-term conviction. As a result, Ethereum price often reacts when it tests that band.
Ethereum price traded above that zone during the latest consolidation, which kept the long-term cost band intact. Moreover, price action near that band can influence risk decisions for longer-horizon holders.
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Ethereum price has compressed around $3,100 after repeated failures to hold above nearby resistance. The $3,000–$3,100 region has acted as a support level during multiple dips.
Short-term moving averages have started to cap rebounds, which often signals a corrective phase. Volume has also softened during recent bounces, which points to thinner follow-through.
Ethereum price has also respected the $3,100 area as an intraday magnet. Besides, repeated tests can weaken support over time. A clear close above $3,300 would reduce that risk and refocus attention on higher resistance in the near term.
For momentum to improve, Ethereum price needs a move above $3,300 and a sustained hold. Traders often treat that level as a trigger that can flip short-term structure back upward.
If Ethereum price slips below $3,000 with follow-through, downside risk increases. In that scenario, the $2,700–$2,800 long-term accumulation band becomes the next major support zone to monitor.