Technical analysis by MeTraderTr about Symbol ETH on 1/6/2026

A falling channel structure is clearly visible on the Ethereum side, starting at $3,447. After this decline, the price started to fill the FVG (Fair Value Gap) areas formed within the channel with a gradual accumulation process. Taking the vertex as reference, respectively: •$3,124 FVG filled •$3,226 FVG filled •Currently 3.316$ FVG is in the filling phase This structure shows that the price is moving from bottom to top in search of balance... On the RSI side, an overbought zone above 80 is seen. Although this situation shows that the rise may continue for a while, it also increases the possibility of seeking liquidity in the upper regions... With a clear close above $3,316, our first target will be the $3,447 level, which is the previously liquidated pin area. After a liquidity grab towards this region, the possibility of a short-term short / reversal is technically on the table... However, when we look at the bullish candles, we see that the movement is gradual and controlled, not impulsive. This suggests that the rise may be in a balance-distribution process rather than a strong trend continuation... If there is a rejection from the $3,447 area, the price could form a falling channel-like structure again, leaving a new FVG on the downside. The current formation seems compatible with a round bottom / bowl-like recovery structure formed after the falling channel... #ETH #ETHUSDT #Ethereum #Crypto #CryptoMarket #FVG #LiquidityGrab #PriceAction #SmartMoney #RSI #Overbought #TradingView #MeTrader