On-chain metrics show a shift from accumulation to markup, with the MVRV 30-day hovering around 5.8% after moving above zero, suggesting real buying conviction without overheating risk.

ETF inflows remain robust, adding roughly $480 million in net inflows over the past week and helping support price stability and a bullish sentiment.

Ethereum’s price trend strengthens into January 2026, posting higher lows since late 2025 and testing the 200-day EMA near $3,300.

Network activity has risen across 30-day, 7-day, and 24-hour windows, with large holders (10M–100M ETH) increasing participation, signaling smart-money positioning during an early reversal.

Taken together, price action, ETF demand, on-chain signals, and wallet activity point to a gradual expansion with no immediate risk of a sharp spike unless new catalysts emerge.

Key resistance sits near $3,827 and $4,218; a confirmed break above the 200-day EMA could unlock upside, suggesting potential gains beyond 25% from current levels.

Taker-buy dominance appears in CryptoQuant data, with the 90-day Spot Taker CVD shifting away from sell-heavy conditions, signaling improving sentiment and demand absorption.