Ethereum Price Analysis: ETH Risks Falling to $2.6K if This Key Level Cracks

Ethereum continues to show resilience in early 2026, despite an increasingly tense macro backdrop. Geopolitical uncertainty in the Middle East, ongoing supply chain disruptions, and US–China tensions have shaken global risk appetite, yet crypto markets remain surprisingly stable.

Ethereum Price Analysis: The Daily Chart

On the daily chart, ETH has broken above the broad descending channel. After bouncing strongly from the green demand zone near $2,600 in mid-December, the price managed to reclaim the $3,000 psychological mark. However, the rally stalled just under the $3,500 resistance band, which aligns with both the 200-day and 100-day moving averages. This zone has acted as a strong supply wall in recent months.