Midday Analysis: Ethereum ETH Price Forecast

From the 4-hour K-line trend of ETH, the price has shown a noticeable rebound during the recent fluctuation. Compared to 2026-01-23 20:00:00, the current price has risen significantly, also recovering from the level at 2026-01-22 12:00:00, and successfully breaking through the previous high at 2026-01-23 16:00:00. The K-line pattern transitions with small bearish candles, with the latest candle closing higher than it opened, indicating short-term upward momentum remains.

From the volume perspective, recent trading volume has continued to decrease, clearly below the previous several 4-hour periods. While the price is rising, volume has not expanded accordingly, showing a typical "rising price with shrinking volume" structure. This also suggests that the current upward momentum is weakening, and buying enthusiasm is relatively cautious.

Regarding technical indicators, MACD remains above the zero line, but the overall trend is not clear. The histogram continues to be positive but gradually shortens, indicating that bullish strength is waning, and the market is more in a consolidation phase after a rebound rather than a strong trend continuation. The KDJ indicator shows no obvious golden cross or death cross signals, maintaining a neutral state. The current KDJ value is 37, which is relatively low but has not yet entered the extreme oversold zone, accompanied by some divergence between price and volume, so short-term volatility risks should be monitored.

Combining the current technical structure, on the bullish side, focus on two buy reference zones at 2939.88 and 2912.0, with a stop-loss at 2925.18. On the bearish side, watch two sell zones at 3028.0 and 3223.91, with a short position stop-loss set at 3240.03.

At key levels, the current important support is at 2912.0. If this area is broken, the market may retest lower levels; the main resistance above is at 3028.0, which also serves as the short-term bull-bear dividing line. Recent highs are at 3223.91, and lows are at 2939.88.

Overall, ETH is currently in a rebound consolidation phase, with the upward structure still intact but momentum clearly slowing down. In the short term, it is more suitable to trade around support and resistance zones, patiently waiting for volume to pick up again or for indicators to give clearer directional signals.