ETH Price Prediction: Targets $3,500 by Month-End as Technical Indicators Signal Bullish Momentum

CoinCodex provided an Ethereum forecast on January 7, suggesting “ETH price is expected to rise by 10.38% in the next 5 days according to our Ethereum price prediction,” with a target of $3,549.33 by January 12, 2026.

While specific analyst predictions from major KOLs are limited in recent days, on-chain metrics from platforms like Glassnode and CryptoQuant continue to show strengthening fundamentals for Ethereums price structure.

ETH Technical Analysis Breakdown

Ethereums current technical setup presents a compelling bullish case. Trading at $3,287.69, ETH sits well above its key moving averages, with the 7-day SMA at $3,159 and 20-day SMA at $3,095. This positioning indicates strong short-term momentum.

The RSI reading of 61.80 places Ethereum in neutral territory, providing room for further upside without entering overbought conditions. The MACD histogram at 0.0000 suggests bullish momentum is building, while the main MACD line at 50.10 confirms positive trend direction.

Particularly noteworthy is ETHs Bollinger Band position at 0.90, indicating the cryptocurrency is trading near the upper band at $3,337. This positioning suggests strong buying pressure but also warns of potential short-term resistance.

The 24-hour trading range of $3,130 to $3,367 demonstrates significant volatility, with the Average True Range (ATR) of $107.53 confirming elevated price movement expectations.

Ethereum Price Targets: Bull vs Bear CaseBullish Scenario

The primary bullish ETH price prediction targets the immediate resistance at $3,393, followed by the stronger resistance level at $3,499. A sustained break above $3,393 with strong volume could propel Ethereum toward the $3,500 target cited by analysts.

For this Ethereum forecast to materialize, ETH needs to maintain its position above the pivot point at $3,261 while building momentum through the upper Bollinger Band. The 24-hour volume of $1.86 billion provides sufficient liquidity for such moves.

Bearish Scenario

The downside risk centers around the immediate support at $3,155, which coincides closely with the 7-day moving average. A breakdown below this level could trigger selling toward the stronger support at $3,024.

The primary risk factor remains ETHs position significantly below the 200-day SMA at $3,641, indicating the longer-term trend still faces headwinds. Any broader crypto market weakness could pressure Ethereum toward these lower support levels.

Should You Buy ETH？ Entry Strategy

Current technical conditions suggest potential entry opportunities on any pullback toward the $3,200-$3,260 range, which aligns with the pivot point and provides a favorable risk-reward ratio.

Conservative traders might wait for a confirmed break above $3,393 before entering, using the immediate support at $3,155 as a stop-loss level. This approach offers approximately 3% downside risk against 3-4% initial upside potential.

More aggressive traders could consider scaling into positions around current levels, given the neutral RSI reading provides room for momentum building. A stop-loss below $3,155 would limit downside exposure while maintaining upside exposure to the $3,500 target.