Ethereum (ETH) is priced at approximately $3,166.64, down by $91.42 from the previous trading day. On January 8, 2024, at 8:00, Ethereum (ETH) traded around $3,166.64, a decrease of $91.42, or 2.81%. The price fluctuated narrowly between $3,166.64 and $3,173.80, with a trading volume of 382.45K, indicating relatively light market activity.

From a technical perspective, Ethereum has been consolidating after reaching a high of $3,263.74 on January 5. On January 7, it experienced a single-day decline of 3.88%, indicating significant short-term profit-taking pressure. The current price has broken below the 5-day moving average support, and the short-term moving averages are showing signs of flattening. The MACD indicator's red histogram has expanded, suggesting that short-term correction pressure still exists. Key support levels are located around the $3,100 mark; if this level is broken effectively, further testing of the $3,000 support area may occur. Resistance is expected near $3,300; a breakout above this level could lead to a retest of previous highs.