Ethereum is attempting to stabilize above the $3,100 level after failing to break the $3,400 resistance, as the broader crypto market struggles to regain momentum. Even though the bulls have managed to defend key support in recent sessions, price action remains fragile and very reactive, with sellers still showing up during rallies. ETH is stuck in a tight range and traders are watching closely to see if this pullback turns into a deeper correction or simply a reset before the next move higher.
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A report from Arab Chain highlights that Binance data signals a sensitive phase for Ethereum in early 2026. According to the analysis, ETH is trading near the $3,200 zone, but market flow conditions remain trending downward.
The Accumulated Order Flow (CVD) indicator is sitting at around -3,676, suggesting that net selling pressure is still dominating near-term activity. Simply put, more aggressive sell orders hit the market than buy orders, even as prices attempt to maintain recent levels.
This divergence between price stabilization and negative flows reflects a market that is not collapsing, but is not yet attracting strong demand. As Ethereum defends its support, the next test will be whether buyers can reclaim $3,300 and challenge the $3,400 ceiling again, or if weakness takes the price back towards deeper support zones.
Ethereum holds steady despite negative Binance order flow
Arab Chain notes that while Ethereum’s CVD remains negative, the relationship between prices and liquidity flows is not completely broken. According to the report, the 30-day correlation between ETH price and CVD sits near 0.62, which is a relatively constructive reading. This model suggests this price action partially align with volume behavior, even if liquidity bows towards sales rather than new purchases.
In other words, Ethereum does not trade in a vacuum (flows still matter) and the market reacts in a way that reflects its actual positioning.
From a broader perspective, ETH’s gradual decline to its current levels signals a correction phase after its previous rise. Historically, this is the type of environment in which short-term investors take profits and reduce their exposure, while large players begin to rebalance their portfolios and slowly rebuild their positions. Instead of an immediate trend reversal, the market often shifts to a sideways price action as both sides test liquidity.
The key issue is that the CVD remains negative, meaning demand is not yet strong enough to reverse the flow structure in the short term. However, Ethereum’s ability to hold above the $3,000 level indicates underlying support that limits further downside acceleration.
This lag (weak volume flow dynamics but stable price behavior) often precedes calmer periods of consolidation which can then lay the foundations for a stronger rise once liquidity conditions improve.
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EETH bulls fight to reclaim $3,100
Ethereum is attempting to stabilize above the $3,100 level after a sharp rejection from the $3,400 supply zone, with the price now trading near $3,111. The chart shows that ETH is still recovering from the broader downtrend that began after the November breakout, but the structure remains fragile as sellers continue to defend any upside attempts.
From a technical perspective, the $3,300-$3,400 region stands out as the main resistance group. Price has repeatedly failed in this area, and the latest rejection confirms that it remains a major distribution level. At the same time, Ethereum is holding above its short-term moving average near $3,050 to $3,100. Suggestive buyers are still active, defending the current range.
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However, ETH remains capped below the medium-term moving averages, which are trending lower and acting as dynamic resistance. This keeps the market in a “resuming downtrend” pattern unless the bulls can move these levels back into support. Volume also remained relatively subdued during the rebound, indicating that the move still lacks aggressive follow-through.
Ethereum seems stuck in consolidation. With $3,000 as the critical bottom and $3,400 as the breakout trigger, there was a need to change market sentiment.
Featured image from ChatGPT, chart from TradingView.com
