{"id":68743,"date":"2026-01-21T19:16:48","date_gmt":"2026-01-21T19:16:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=68743"},"modified":"2026-01-21T19:16:48","modified_gmt":"2026-01-21T19:16:48","slug":"eth-crashes-12-weekly-is-a-drop-to-2600-next","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=68743","title":{"rendered":"ETH Crashes 12% Weekly: Is a Drop to $2,600 Next?"},"content":{"rendered":"<div>\n<p>Ethereum (ETH) has dropped sharply after failing to hold above the $3,400 resistance level. The move has pushed the price below a key support line, triggering increased selling across both spot and derivatives markets.<\/p>\n<p>As of press time, ETH trades arpimd at $2,960, down nearly 12% over the past week. Trading activity has picked up, but buyers appear to be stepping back.<\/p>\n<h2>Rejection at $3,400 Triggers Sell-Off<\/h2>\n<p>Ethereum was halted near $3,400, a level traders had been watching. Analyst Kamran Asghar said the rejection came \u201c<em>perfectly off the OTE selling area<\/em>,\u201d referring to a zone often targeted by sellers. After that move, the price broke through ascending support, putting the $2,600 zone back in focus.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24Ethereum&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$Ethereum<\/a> Rejected &amp; Ejected. <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4c9.png\" alt=\"\ud83d\udcc9\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>Perfectly played off the OTE Selling Area at $3,400. We\u2019ve now snapped the ascending support, and the path of least resistance is looking like a trip back to the $2,600 value area. <a href=\"https:\/\/t.co\/6JQuZIqpmY\">pic.twitter.com\/6JQuZIqpmY<\/a><\/p>\n<p>\u2014 \ud835\udc0a\ud835\udc1a\ud835\udc26\ud835\udc2b\ud835\udc1a\ud835\udc27 \ud835\udc00\ud835\udc2c\ud835\udc20\ud835\udc21\ud835\udc1a\ud835\udc2b (@Karman_1s) <a href=\"https:\/\/twitter.com\/Karman_1s\/status\/2013899370119180460?ref_src=twsrc%5Etfw\">January 21, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the past day, Ethereum lost nearly 5% while volume rose to over $31 billion. Derivatives volume also climbed 40%, reaching $71.75 billion, per CoinGlass data. But open interest fell by about 5% to $39.35 billion, showing many traders were closing positions instead of adding risk.<\/p>\n<p>Meanwhile, heatmap data from order books show heavy buying interest sitting below the current price. Analyst Kriptoholder <a href=\"https:\/\/x.com\/kriptoholder\/status\/2013718533067165861?s=20\">noted<\/a> demand in the $2,800\u2013$2,850 range, with larger buy walls around $2,500\u2013$2,600.<\/p>\n<p>These areas could attract buyers if the asset drops further. Pointing to large pending orders from bigger players, Kriptoholder said,<\/p>\n<blockquote>\n<p>\u201cThe order book heatmap transparently reveals the true liquidity depth resting below the price action.\u201d<\/p>\n<\/blockquote>\n<h2>ETF Outflows and Falling Exchange Reserves<\/h2>\n<p>US spot ETH ETFs recorded net outflows of $229.95 million on January 20, ending a five-day inflow streak (per SoSoValue\u2019s data). The shift in flow direction came during the same period as the price decline, suggesting possible profit-taking or reduced short-term confidence.<\/p>\n<figure id=\"attachment_1426533\" aria-describedby=\"caption-attachment-1426533\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-scaled.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-1426533\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-scaled.png\" alt=\"Ethereum (ETH) Spot ETF Net Inflow\" width=\"2560\" height=\"659\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-scaled.png 2560w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-300x77.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1024x264.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-768x198.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1536x395.png 1536w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-2048x527.png 2048w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-90x23.png 90w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-150x39.png 150w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-2000x515.png 2000w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1600x412.png 1600w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1400x360.png 1400w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1200x309.png 1200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-1000x257.png 1000w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-900x232.png 900w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-800x206.png 800w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-700x180.png 700w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-600x154.png 600w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-500x129.png 500w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-400x103.png 400w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-200x51.png 200w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-21-at-3.12.47-PM-100x26.png 100w\" sizes=\"(max-width: 2560px) 100vw, 2560px\"><\/a><figcaption id=\"caption-attachment-1426533\" class=\"wp-caption-text\">Ethereum (ETH) Spot ETF Net Inflow 1.20. Source: SoSoValue<\/figcaption><\/figure>\n<p>Meanwhile, ETH held on centralized exchanges continues to shrink. According to CryptoQuant analyst Arab Chain, reserves have <a href=\"https:\/\/cryptoquant.com\/quicktake\/6970642ecbe161236f139609-Ethereum-exchange-reserves-continue-to-decline-reaching-162-million-ETH-marking-\">dropped<\/a> to 16.2 million ETH, the lowest since 2016. Binance alone saw a fall from 4.168 million to 4.0 million tokens since early January.<\/p>\n<p>In addition, Ethereum staking also <a href=\"https:\/\/cryptopotato.com\/ethereum-staking-surges-to-all-time-high-amid-institutional-wave\/\">hit<\/a> a new record, with more coins being locked up than ever before. This reduces circulating supply and may support price once selling pressure fades.<\/p>\n<h2>Longer-Term Setup Remains in Focus<\/h2>\n<p>Some traders are watching for a larger setup to play out. As <em>CryptoPotato<\/em> <a href=\"https:\/\/cryptopotato.com\/this-ethereum-eth-pattern-could-launch-the-next-big-rally\/\">reported<\/a>, ETH may be forming an inverse head-and-shoulders pattern, with a possible breakout target near $4,400. That level would need to be cleared for the structure to be confirmed.<\/p>\n<p>Elsewhere, a post from Bitcoinsensus <a href=\"https:\/\/x.com\/Bitcoinsensus\/status\/2013914718814318835?s=20\">raised<\/a> the question: \u201c<em>Is a $10K ETH on the table for this cycle?<\/em>\u201d Based on past cycles and reduced returns, the estimate suggested a possible range of $10K\u2013$15K. However, market conditions remain fluid, and the near-term trend has turned lower.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/eth-crashes-12-weekly-is-a-drop-to-2600-next\/\">ETH Crashes 12% Weekly: Is a Drop to $2,600 Next?<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) has dropped sharply after failing to hold above the $3,400 resistance level. The move has pushed the price below a key support line, triggering increased selling across both spot and derivatives markets. As of press time, ETH trades arpimd at $2,960, down nearly 12% over the past week. Trading activity has picked up, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-68743","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/68743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68743"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/68743\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}