Starting in 2026, Ethereum has been oscillating around the $3200-$3400 range. This price zone is not simple — big whale James Wynn has already positioned here, entering with 25x leverage, and has made over $250,000 so far, showing strong confidence in the subsequent trend.

What’s even more noteworthy is the action from institutional players. On January 6th, the daily data was impressive, with Ethereum spot ETF inflows reaching $114 million, setting a new record. BlackRock continued to add positions, with large asset management firms voting with real money. Additionally, data shows that a leading institution exchanged 2.5 million WBTC for 770 ETH, a rare large-scale cross-asset rebalancing, indicating active institutional allocation to Ethereum.

From a technical perspective, the RSI hovers at 61.72, showing signs of being slightly overbought, but the MACD momentum remains positive. If it can hold above the 3300 level, a breakout above 3400 is possible, with a target potentially testing 3800. Conversely, if it faces resistance around this area, a pullback to 3000 should also be prepared for. The recent market pace is fast, and the battle between whales and institutional funds will unfold as the market watches.