Ether’s (ETH) was down 14% from its 2026 high above $3,200 and 41% below its $4,950 all-time high, reached in August 2025. Despite this drawdown, traders remain optimistic about the ETH price rising higher as long as a key support level is reclaimed.
Key takeaways:
-
Ether traders are bullish on a $10,000 ETH price despite a 41% drawdown from all-time highs.
-
Wyckoff method, cycle patterns, and liquidity correlations converge on a $10,000–$15,000 ETH price target.
-
Record daily transactions, increasing daily active users and nine-year low transaction fees suggest bullish onchain momentum.
ETH traders are still eyeing $10,000-$15,000 price
Market analysts say ETH price is undergoing a technical correction to retest key support levels before continuing its uptrend.
Technical analysis using the Wyckoff method points to a potential ETH price breakout above the $10,000 mark, according to crypto analyst Annie.
Related: Bitmine’s staked Ether holdings point to $164M in annual staking revenue
“The structure is complete, just waiting for one last breakout,” the analyst said in a recent post on X, adding:
“Once the market kicks off, it’ll shoot straight up. $ETH target price is $10,000.”
Fellow analyst Bitcoinsensus shared a similar bullish outlook for ETH, pointing out that a $10,000 ETH price could still be on the table this cycle.
“Looking at previous price performance, we can see that Ethereum has gone through massive upswings,” the analyst said in a Jan. 1 post on X.
An accompanying chart showed that the ETH/USD pair has “experienced diminishing returns” with each upswing.
“If we apply the same logic, we could see $ETH reach somewhere between $10K and $15K.”
Crypto Caesar, meanwhile, remained optimistic that Ether will hit the $10,000 mark “sooner or later” once the $4,500-$5,000 monthly resistance is broken.
“It’s just a matter of time. Onchain season will come back.”
As Cointelegraph reported, a recurring pattern linking the global liquidity and the Russell 2000 index hints at a potential 226% ETH price breakout. Such a move from the current level places Ether’s price target at $9,500.
“ETH is behind the Russell-2000 for the first time in years,” said Coinvo Trading in a Monday X post, adding:
“Once ETH catches up, altcoin season begins.”
Ethereum transaction fees hit 9-year lows
Multiple onchain factors support Ether’s upside, including high network activity and strong support below.
Ethereum has also seen an influx of new users with daily transactions hitting a record high of 2.78 million on Jan. 15.
This has seen the daily transaction count increase by about 20% over the last month. The number of daily active addresses has jumped 50% over the same period, reflecting high onchain demand.
Meanwhile, daily transaction fees have dropped significantly over the last 30 days, hitting eight-year lows below 150 ETH ($435,000) on Tuesday, according to data from Glassnode.
Lower transaction fees are a long-term bullish catalyst for price as it enhances Ethereum’s utility and competitiveness against rival layer-1 chains, while attracting more users.
“Ethereum tx fees are at all-time lows right now, but smart contract deployments just hit a record high,” Cypher said in a recent X analysis.
Such a combination usually means developers are shipping while builders remain active, Cypher explained, adding:
“Quietly one of the most bullish backdrops for $ETH right now.”
🚨 NOW: Ethereum transaction fees hit all-time lows while contract deployments reach record high, per Token Terminal. pic.twitter.com/Dc853JT19r
— Cointelegraph (@Cointelegraph) January 23, 2026
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
