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- Ethereum price gains as bulls eye $3,500 amid broader cryptocurrency gains.<\/li>\n
- The Ethereum network\u2019s stablecoin transfer volume hit $8 trillion.<\/li>\n
- Bulls could target a surge to $4,000-$4,500, although bears remain alert.<\/li>\n<\/ul>\n
The price of the Ethereum token is hovering in the green as optimism across the cryptocurrency market lifts Bitcoin to $93,000. AI tokens were among the cryptocurrencies that rallied.<\/p>\n
With ETH at $3,171 at the time of writing, analysts are pointing to a potential squeeze past $3,500.<\/p>\n
The top altcoin network\u2019s unprecedented stablecoin transfer volumes, as well as overall risk market trends, make the odds in favour for the bulls.<\/p>\n
However, traders have also taken note of a $63 million short position by a major whale, largely signaling big investors\u2019 view of the asset\u2019s near-term trajectory.<\/p>\n
Ethereum price retests $3,200 resistance level<\/h2>\n
Ethereum\u2019s price climbed to highs of $3,211 early Monday.<\/p>\n
It marks a notable rebound that sees bulls reclaim the level after falling to lows of $2,700 in mid-December 2025.<\/p>\n
The token had failed to clear above $3,000 after climbing to near $3,400 earlier that month.<\/p>\n
![\"Ethereum](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/01\/ethereum-price-chart.png\")
Ethereum price chart by TradingView<\/figcaption><\/figure>\n However, as top altcoins joined Bitcoin in a broader market upswing, ETH rose from a support level near $3,100.<\/p>\n
Bulls boasted the upper hand with daily volume jumping 40% to over $17 billion.<\/p>\n
Ethereum\u2019s price gains aligned with the uptick for equities, which showed gains as the market reacted to news of a US operation in Venezuela.<\/p>\n
Analysts at QCP Group said in a note to investors.<\/p>\n
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\u201cAfter a range-bound December, crypto broke higher in early Asia, with $BTC and $ETH clearing $92k and $3,100. The move coincided with gains in equities and weaker oil prices following the US operation that led to the detention of Venezuela\u2019s Nicol\u00e1s Maduro.\u201d<\/p>\n<\/blockquote>\n
Gains for Ether also come as the network eyes momentum amid a record stablecoin transfer volume.<\/p>\n
Token Terminal data shows the Ethereum network has achieved a historic milestone, with stablecoin transfer volumes crossing $8 trillion in the fourth quarter of 2025.<\/p>\n
This record high, nearly double the volume recorded earlier in the year, highlights Ethereum\u2019s dominance as a hub for stablecoin transactions.<\/p>\n
Real-world payment use rather than speculative trading provided fuel for this growth.<\/p>\n
Bulls target $3,500, but what do analysts say?<\/h2>\n
According to QCP Group, crypto price performances in the past week show \u201calignment with broader risk assets.\u201d<\/p>\n
This could signal a shift in sentiment, which may then strengthen bullish narratives.<\/p>\n
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2\/ Crypto\u2019s alignment with broader risk assets is looking less like a coincidence and more like a regime shift to start the year, helped by year-end tax loss harvesting fading and policy optionality back on the radar.<\/p>\n