Ethereum Price Forecast: ETH Approaches $3,110 as $5.5B Staking Queue Creates Breakout Potential

Ethereum is currently trading at approximately $3,110, reflecting an increase of about 0.5% over the last 24 hours, as the price action settles into a narrow consolidation phase. The daily trading volume is around $6.5 billion, and Ethereum continues to hold its position as the second-largest cryptocurrency asset, boasting a market capitalization of about $375 billion.

At first glance, the movement appears modest. However, a deeper examination of the structure indicates that something more intentional is taking shape.

Since late December, ETH has consistently registered higher lows, remaining above a rising trendline despite multiple attempts to dip lower. This behavior typically signifies accumulation rather than exhaustion, especially when the price maintains key support levels.

Increasing Staking Queue Indicates Supply Constriction

On-chain metrics are contributing a crucial aspect to the technical landscape. Based on ValidatorQueue data, the staking entry queue for Ethereum’s Beacon Chain has escalated to 1.759 million ETH, roughly equivalent to $5.5 billion, marking the highest level since August 2023. New validators are now facing a wait time exceeding 30 days before they can be activated.

According to ValidatorQueue data, the Ethereum Beacon Chain staking entry queue has surged to 1.759 million ETH (~ $5.5 billion), marking the highest level since late August 2023. New stakers now need to wait about 30 days and 13 hours before their validators can be officially… pic.twitter.com/QqP1Itq5pb

— Wu Blockchain (@WuBlockchain) January 10, 2026

Concurrently, the exit queue has fallen to zero, indicating that no significant influx of stakers is hurrying to exit. In simple terms, more ETH is lining up to be locked away, while none is queued to leave. This dynamic diminishes the available liquid supply just as the price compresses near resistance.

Ethereum Price Forecast: Technical Chart Structure Indicates Accumulating Pressure

From a technical standpoint, the Ethereum price forecast is tightening. The price is trapped between the ascending trendline and a declining band formed by the 50-EMA and 100-EMA, which are flattening near $3,110. This convergence often signals an impending expansion of volatility.

Ethereum Price Chart – Source: Tradingview

Momentum indicators bolster the setup. The RSI has bounced back from oversold conditions and is now hovering above 55, indicating strengthening bullish momentum without becoming overextended.

Candlestick patterns over recent sessions illustrate repeated long lower wicks near $3,050–$3,070, underscoring that buyers are entering the market early instead of waiting for deeper pullbacks.

Ethereum Trade Outlook Relies on $3,180 Breakthrough

Utilizing TradingView’s path projection, a sustained close above $3,180 would likely validate the breakout, paving the way for a move toward $3,250, followed by a retest of the $3,300 area. Should momentum pick up, extensions toward $3,380–$3,420 become technically plausible.

From a trading viewpoint, the structure favors patience rather than prediction. Strength above resistance is more significant than mere anticipation.

As staking demand increases and the price continues to tighten, Ethereum seems less like a market that is losing momentum and more like one that is gearing up for its next growth phase, often creating an environment where early positioning becomes crucial.

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