Ethereum price fell 15.9% over seven days ending Sunday, triggering $910 million in liquidations for traders using leverage on long positions. The decline pushed ETH down to $2,800, a level that had provided support for two months.
The price managed to hold above $2,850 before starting a recovery wave. ETH cleared the $2,900 and $2,920 resistance levels before breaking back above $3,000. A high was formed at $3,030 during the recovery.
The price is now trading above $2,980 and the 100-hour simple moving average. A bullish trend line has formed with support at $2,970 on the hourly chart.
Ethereum layer-2 networks recorded 128 million transactions over the past week. This total surpassed both BNB Chain and Tron in transaction volume.
Ethereum transaction volume at ATH but fees not even close to 2021 levels!
WE'RE doing 3x more transactions with 1/3rd the cost.
What's different: 2021 was speculation-driven fee explosion. Now it's actual usage at scale. People are paying for real economic activity.
The only… pic.twitter.com/4VUI5ZYhjw
— Leon Waidmann (@LeonWaidmann) January 26, 2026
Base, Polygon, Arbitrum and Optimism all contributed to the growth in layer-2 activity. The Fusaka upgrade in December 2025 boosted network data capacity and introduced transaction batch workflows.
Network fees on Ethereum increased 19% over the last week. Meanwhile, competitors Tron and Solana saw declines in their fee revenues during the same period.
Average transaction fees on Ethereum dropped to $0.20, down from $0.50 in November 2025. The network processed 16.4 million weekly transactions while keeping fees below $0.20 during periods of high demand.
Weekly DEX volumes on Ethereum reached $13 billion, up from $8.15 billion four weeks ago. The total Ethereum ecosystem, including layer-2 networks, hit $26.8 billion in DEX volume.
Solana leads with $30 billion in weekly DEX volume. However, the combined Ethereum ecosystem shows growing capital inflows across its platforms.
The shift in DEX activity represents a return to Ethereum after perpetual contracts trading peaked in August 2025. Lower transaction fees have made the network more attractive for traders.
Professional traders moved back to neutral positioning between call and put options on Monday and Tuesday. This followed five days where put options dominated the market.
The ETH options put-to-call volume ratio at Deribit reached 2x on Sunday, marking the highest level in over four months. The peak in put option volume occurred after ETH dropped below $2,800.
Ethereum maintains dominance in total value locked across decentralized finance platforms. This shows continued investor preference for the network despite competition from other chains.
$ETH WILL 3X-4X IN THE NEXT 6 MONTHS
I can't believe it myself, but the pattern screams about it
8 years ago, this same chart structure = Ethereum went from $56 to $1,151
This time it's little different:
• Accumulation lasts longer
• Institutions stacking billions
• Massive… pic.twitter.com/YbC1DSAiPV— Leshka.eth
(@leshka_eth) January 28, 2026
The price faces immediate resistance near $3,030 and $3,050. A clear move above $3,065 could send the price toward $3,120. Further gains could push ETH toward $3,180 or $3,200 in the near term.
The post Ethereum (ETH) Price: Network Activity Jumps as Traders Eye $3,300 appeared first on CoinCentral.
