January 26 News, Ethereum prices have maintained strong structural momentum into early 2026. As on-chain activity and long-term technical patterns continue to improve, market expectations for ETH to break through the $4,800 target have significantly increased. Several analysts believe that the current consolidation phase is more about building strength for the next upward move rather than a trend reversal.
From a long-term technical perspective, Trader Tardigrade pointed out that Ethereum remains in a solid upward channel on the monthly chart, with prices continuously raising lows along the trendline, indicating sustained institutional and long-term capital inflows. Historically, this arc-shaped accumulation structure often corresponds to subsequent large-scale upward movements rather than a top distribution phase. This also provides structural support for “Ethereum price forecasts” regarding challenging the all-time high and even reaching above $4,800.
Fundamentally, CyrilXBT emphasized that Ethereum network growth is accelerating noticeably. On-chain transaction volume has risen to multi-year highs, reflecting the continuous expansion of real demand for blockchain space from applications like DeFi, NFTs, and RWA. This activity driven by use cases, unlike pure speculation, is more conducive to forming a stable value anchor. The increase in transaction volume also means more fee income and stronger network utility, providing medium- to long-term support for ETH prices. This is a key logic many investors focus on when researching “Ethereum network growth and its impact on price.”
In the short term, EliZ warned that ETH around $3,404 still faces strong selling pressure. Multiple attempts to push higher have failed, causing the price to temporarily consolidate. However, the pullback remains above the key demand zone, indicating that the market has not experienced panic selling. As long as this zone is not effectively broken, the medium-term structure remains bullish, and a breakout above resistance could accelerate the rally again.
From trend structure, on-chain data, to market sentiment, Ethereum is in a phase of building momentum for higher targets. During the 2026 crypto market cycle, discussions about whether ETH can break previous highs and challenge $4,800 are gradually becoming the core themes in “Ethereum price trend analysis” and “ETH future price forecasts.”
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