Ethereum momentum weakens as $3,050 support becomes critical

Beincrypto reports Ethereum is slipping again, down about 3.2% over the past 24 hours and extending a pullback from the January peak near $3,390; the token remains inside a rising channel but momentum is showing signs of weakening. Two daily RSI divergences highlight the strain: between December 10 and January 14 price made a lower high while RSI made a higher high (a hidden bearish signal), and between January 6 and January 14 price rose slightly while RSI formed a lower high (a standard bearish divergence), TradingView shows.

On-chain metrics add nuance: Glassnode says aggregate NUPL only slipped from about 0.31 to 0.30, leaving profit-taking incentives, while Santiment reports spent-coin activity collapsed roughly 74% from ~318,000 ETH to ~84,300 ETH, indicating spot holders are not rushing to sell. Derivatives positioning is heavily long-biased on Binance’s ETH‑USDT perpetual market, with cumulative long leverage near $3.36 billion versus about $1.93 billion in shorts, and Coinglass liquidation maps show the largest concentration of long liquidations clustered below $3,050.

The $3,050 area has been a key support since early 2026; the analysis says a daily break below it would activate heavy long liquidations and come close to breaking the channel, which could accelerate downside toward $2,760, while reclaiming $3,390 on a daily close would neutralize bearish momentum and moves above $3,480 or $3,650 would improve recovery odds toward $4,260.

Key Topics

Crypto, Ethereum, Eth-usdt, Rsi, Nupl, Binance