- ETH’s yellow B‑wave correction appears complete, with a clear A‑B‑C structure bringing price into clustered support between $3,100 and $3,200.
- Fibonacci retracements at 23.6%, 38.2%, and 50%—near $3,190, $3,143, and $3,106—form a critical decision zone for a potential bullish resurgence.
- The uptrend from December 18, 2025 remains valid while this region holds, with traders eyeing a recovery toward $3,300 and above if momentum returns.
The volatile world of cryptocurrency, Ethereum (ETH) is currently navigating a critical juncture, as highlighted in a recent analysis by More Crypto Online. The chart depicts a 30-minute timeframe for ETH/USD, showing a notable uptrend that began on December 2025, propelling the price from lower levels to a peak near $3,480 earlier this month. However, a subsequent pullback has tested investor resolve, with the price dipping toward key support zones.
Fibonacci Cluster Defines the Bull–Bear Battleground
According to the Elliott Wave analysis presented, the yellow B-wave scenario appears complete, characterized by a corrective three-wave structure in the recent decline. This pullback, labeled as waves A, B, and C, has brought ETH to hover around the $3,100 mark, where support is still holding firm. The chart annotates potential wave counts, including an impulsive five-wave advance (1 through 5) followed by the corrective phase. Alternative labeling suggests this could be part of a larger wave (3), (4), (5) structure, adding layers to the bullish case.
Fibonacci retracement levels overlay the chart, providing clear technical benchmarks. The 23.6% retracement sits at approximately $3,190, while the 38.2% level is at $3,143, and the 50% golden ratio at $3,106. These zones are pivotal; a bounce from here could invalidate bearish scenarios and reaffirm the uptrend’s integrity. If bulls step in aggressively, we might see a push back toward the recent highs or beyond, potentially targeting resistance near $3,300 based on the 78.6% level.
Macro and Fundamentals Still Favor ETH’s Long-Term Case
Market sentiment remains cautiously optimistic. Broader crypto dynamics, including Bitcoin’s influence and upcoming network upgrades like potential advancements in Ethereum’s scalability, could bolster recovery. However, failure to hold support might lead to deeper corrections, possibly testing lower Fib extensions.
Traders are advised to monitor volume and momentum indicators closely. Increased buying pressure in this region would signal strength, while a breakdown could invite sellers. As of January 8, 2026, ETH trades around $3,150, down slightly but resilient. This setup underscores Ethereum’s enduring appeal in the Web3 ecosystem, where technicals meet real-world utility in DeFi and NFTs. For investors, this is a reminder of crypto’s inherent risks and rewards. Staying informed on such analyses can provide an edge in this fast-paced market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
