Ethereum Price Faces ETF Pressure; On-Chain Data Signals Recovery

ETF outflows exceeding $600 million weigh on near-term price, while on-chain activity and staking indicate robust demand ahead of 2026 upgrades.

Rich by Coin

2026-01-25

Bullish Ethereum is trading in the $2,930–$2,950 range as of January 25, 2026, consolidating after a broader pullback from January highs above $3,400. The move lower reflects near-term macro caution and heavy ETF-related selling rather than a breakdown in network fundamentals.

ETF pressure weighs on price, not structure. Short-term pressure has largely come from spot ETH ETF outflows, which exceeded $600 million between January 20–23, led in part by a single-day $250 million exit from BlackRock’s ETHA.

However, the flow data points more toward rotation and profit-taking than institutional abandonment. On-chain tracking shows whales accumulating roughly $1 billion worth of ETH during the recent correction, while funding rates and open interest have reset from crowded long conditions.

On-chain activity remains strong, with daily active addresses climbing toward 1.3 million and transaction counts holding between 1.9 million and 2.2 million per day. Validator behavior reinforces this trend: exit queues are near zero, entry queues are rebuilding, and staking participation continues to rise. Low fees and improved efficiency post-upgrades are also driving sustained DeFi and app usage, reinforcing a “price weak, fundamentals firm” dynamic that has historically preceded larger trend moves.

Technically, Ethereum price prediction remains bearish as ETH holds above the $2,850–$2,900, a key support zone aligned with prior demand and Fibonacci confluence. RSI remains subdued near 35–40, signaling caution but not capitulation. A reset toward support followed by a reclaim of $3,060 would reopen upside toward $3,190–$3,400, while a clean break below $2,800 would risk a deeper retracement toward $2,700. Looking ahead, Ethereum’s 2026 roadmap adds weight to the longer-term case, with the Glamsterdam upgrade and the Hegota phase focusing on scalability, efficiency, and Layer-2 adoption.

With over 8.7 million new contracts deployed entering the year, analysts increasingly view 2026 as a potential breakout period if macro conditions stabilize. Ethereum (ETH) Trade setup: Accumulate near $2,850–$2,900, target $3,190–$3,400, invalidation below $2,700.