Ethereum falls below $3,000 as whales accumulate; prediction market shows 62.5% chance of $2.5K drop

first published 2026-01-21T08:08:35Z

ETH slipped to $2,978 (‑4.6% 24h) after $229.95M in U.S. spot ETH ETF outflows ended a five-day inflow streak. 24h spot trading volume rose 58% to $34.3B; derivatives volume jumped 65% to $74.9B while open interest fell 2%, signalling position unwinding. On-chain exchange reserves remain near multi-year lows (~16.2M ETH). Price broke below the 20-day MA, RSI is in the low 40s; near-term support is $2,900–$2,950 and resistance around $3,000 (upside target $3,200, downside $2,750–$2,800).

AI Analysis

Price dipped below $3,000 to $2,978 and a $229.95M spot ETH ETF outflow ended a five-day inflow streak; spot and derivatives volumes surged (+58% and +65%) while open interest fell 2% (suggesting unwinding). Technicals weakened (below 20-day MA, RSI low 40s). Exchange reserves are near multi-year lows (~16.2M ETH), limiting long-term selling pressure.

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