The ‘Double Bottom’ Signal: Why Analysts Say ETH Is Poised to Take Flight

Ethereum is trading around $3,200 while ETF inflows remain steady, with analysts eyeing resistance at $3,250 and support levels around $3,000.

As a result, the asset is at its highest in more than three weeks. Traders are now keeping an eye on key levels as price action approaches resistance.

Support holds, momentum builds

ETH/BTC has risen from its 21-day moving average and is now trading near 0.035 BTC. Michael van de Poppe described the retest was clean and said it confirmed support.

“At that level you want to see a support test, and that has happened.”

He added that continued ETF inflows support the trend. The chart also shows a demand zone between 0.03 and 0.033 BTC. This area has held out several times since late 2025. As long as ETH trades above that range and remains above the 21-day MA, the short-term structure remains stable.

Moreover, Van de Poppe noted the next resistance between 0.036 and 0.037 BTC. That zone has functioned as a ceiling in recent months. A clear breakthrough could open the way for further gains. While some expect this move, others suggest a short-term pause could come first.

StockTrader_Max said ETH is still on target at $4,100, but there could be a pullback before that. “A move to the 0.618 FIB could be next for around $3,000,they wrote, adding that the 50-day MA is at that level. The analyst sees it as a possible back-test before moving to a higher level.

Sentiment split around $3,250

Another analyst, Lennaert Snyder, marked $3,250 as a short-term barrier.

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“As we are trading with strong resistance here, I am looking at fractures in the local market structure,” he said.

Snyder noted that a clean callback of $3,250 on the 4H chart could trigger long positions toward $3,450. If the price fails, he expects a move to $2,950 to reset the trend.

A pattern on the 3-day chart could also support further upside potential. Trader Tardigrade said ETH has formed a double bottom. If confirmed, it sets a goal of nearly $4,000.

$ETH/3 days#Ethereum has formed a Double Bottom 🔥
If this pattern occurs, the goal will be set at $4000 ✍️ pic.twitter.com/eRsWz35HcH

— Trader Tardigrade (@TATrader_Alan) January 6, 2026

Meanwhile, institutional activity remains stable. BitMine added more than $2 billion worth of ETH to staking. ETF flows remain active, with $168.13 million recorded on January 5 (according to SoSoValue data).