Around 10:00 on January 5, 2026, Ethereum (ETH) price broke through $3,200, reporting $3,207.82 per coin, with an intraday increase of 2.30%.

On that morning, ETH continued its strong momentum, reaching a high of $3,196 before further advancing and successfully breaking the $3,200 psychological barrier. Technical indicators show that ETH has stabilized above the key support level of $3,100, with the daily MACD maintaining a bullish alignment. The price continues to stay above all moving averages, indicating a short-term bullish trend. In terms of market sentiment, the 24-hour short liquidation ratio in the derivatives market reached 71%, reflecting a dominant bullish pattern.

However, it should be noted that the 4-hour RSI has entered the overbought zone (around 72), indicating a short-term technical correction may be needed, potentially pulling back to the $3,126-$3,100 range. The key resistance levels above are in the $3,200-$3,250 area. If a volume breakout occurs, there is potential to test previous highs in the $3,300-$3,450 range.