Ether (ETH)'s 10% rise in January has brought analysts' attention back to the day by day chart, where the worth structure suggests higher prices, but provided that a key day by day trend is restored.
Key Takeaways:
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Ether is on the verge of hitting a day by day double bottom and aiming for the $3,900 mark.
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The 200-period EMA stays the important thing trend that ETH must reverse.
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Volume delta data shows buying pressure coming from retail, but whales have continued to scale back their exposure.
A double bottom is forming as ETH tests structural resistance
Ether's day by day chart shows a developing double bottom that took shape within the fourth quarter of 2025, reflecting repeated defenses of the demand zone. If confirmed, the breakout move will goal the $3,900 area, about 20% above current levels.
ETH one-day chart. Source: Cointelegraph/TradingView
However, the immediate obstacle is the 200-period Exponential Moving Average (EMA). Since the general trend turned bearish in November, ETH has didn’t regain this level twice, with each rejection leading to a continuation of the downtrend. As the worth tests the EMA once more, the altcoin is facing a significant turning point.
A sustained day by day close above the 200-EMA would signal acceptance above long-term trend resistance. From a structural perspective, a powerful close above $3,300 would also mark a bullish structural break on the day by day chart, supporting the double bottom thesis.
Volume delta data highlights a retail-led recovery
Cumulative volume delta (CVD) tracks the online difference between market buy and sell orders over time. A rising CVD signals taker-buy dominance, where aggressive buyers increase prices somewhat than passively waiting.
CVD data for Ethereum spot and futures takers. Source: CryptoQuant
Data from CryptoQuant shows that each spot and futures take CVDs have trended upwards over the past three weeks, indicating consistent demand within the spot and leveraged markets. When these match, it typically reflects the customer's belief somewhat than covering short positions.
However, Hyblock Capital’s data suggested a divergence beneath the surface. Whale wallets ($100,000-$10 million) recorded a negative cumulative delta of $40 million this week, indicating net selling. Meanwhile, retail ($1,000 to $10,000) and mid-sized retailers ($10,000 to $100,000) recorded minor positive deltas of $3.40 million and $28 million over the past six days.
Ether volume delta of varied wallets. Source: Hyblock Capital
This split suggests that smaller participants are driving Ether’s recovery. Whether ETH can break the 200-EMA can determine whether larger players get back in or whether the worth stays below the resistance.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision. While we attempt to supply accurate and up-to-date information, Cointelegraph doesn’t guarantee the accuracy, completeness or reliability of the knowledge in this text. This article may contain forward-looking statements which can be subject to risks and uncertainties. Cointelegraph won’t be answerable for any loss or damage arising out of your reliance on this information.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision. While we attempt to supply accurate and up-to-date information, Cointelegraph doesn’t guarantee the accuracy, completeness or reliability of the knowledge in this text. This article may contain forward-looking statements which can be subject to risks and uncertainties. Cointelegraph won’t be answerable for any loss or damage arising out of your reliance on this information.
