#数字资产市场动态 2026.01.21

ETH rebounded weakly from 3178 and directly plunged to 2911. Will it continue to decline unilaterally or oscillate within a range? This question has been a hot topic of debate in the market recently.

Most people are bearish, believing that ETH will follow the path of the October to November drop—breaking below 2621 without looking back. But I have a different view. I think this decline will take a longer time to play out.

Since the drop starting from 3402, I lean towards the idea that ETH will undergo a wide-range oscillation. This oscillation cycle could last until early February. During this period, you will see alternating rises and falls, but it will remain within a relatively loose range.

Then, in early February, a rapid decline will begin. The key point is near Gann’s time window around 2.17—likely where the final bottom will be found after this wave of decline from 4956. Afterward, ETH will initiate a rebound, and there’s even a possibility of a significant upward trend, with targets reaching 3800 or even higher.

If the market truly follows this oscillation route, there will be plenty of trading opportunities over the next half month. Long positions at lows and short positions at highs, repeatedly trading within the range—this kind of market is most friendly for short- to medium-term trading.

But if it moves directly into a unilateral decline, then opportunities for small-scale rebounds to short from will be key. The most critical point is around mid-March—when signs of a decline halt appear, gradually entering to catch the bottom is the right strategy. In this way, ETH is very likely to not just rebound in the first half of 2026, but to start a real trend upward.