#Ethereum (ETH) Price News Today 17-1-2026 - Elliott Wave and technical analysis of #ETH, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
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As of January 17, 2026, Ethereum (ETH) is trading at approximately $3,293.88, reflecting a marginal 24-hour decline of roughly 0.6%. Despite this slight daily retracement, the asset maintains a strong monthly gain of over 10% as it consolidates below the $3,500 resistance level. Market sentiment is currently shaped by a significant $8 billion staking backlog driven by institutional initiatives like BitMine, which has locked up roughly 3.4% of the circulating supply.
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Key Market Insights
--Institutional Supply Squeeze: Tom Lee's BitMine initiative has significantly tightened liquid supply by accumulating over 4.1 million ETH. This heavy staking activity is viewed by analysts as a primary catalyst for a potential breakout toward $3,500–$4,000 in late January.
--Vitalik Buterin's Strategic Pivot: Co-founder Vitalik Buterin recently stated that Ethereum aims to refocus on self-sovereignty and trustlessness in 2026, aiming to reduce dependence on centralized providers and regain technical ground lost during previous scaling phases.
--Price Forecasts: Short-term technical targets for the coming week range from $3,280 to $3,412. Some institutional forecasts remain highly aggressive, with Standard Chartered projecting a potential move toward $12,000 by the end of 2026, contingent on the successful integration of real-world asset tokenization and the Fusaka network upgrade.
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