Ether (ETH) is down 14% from its 2026 high above $3,200 and 41% below its all-time high of $4,950 reached in August 2025. Despite this decline, investors remain hopeful that the ETH price will rise if a key support level is regained.

Key takeaways:

• Ether traders are bullish on ETH’s $10,000 price despite a 41% decline from all-time highs.

• Wyckoff’s method, cycle patterns and liquidity correlations are converging towards an ETH price target of $10,000-$15,000.

• Record daily transactions, growing daily lively users and low transaction fees for nine years suggest bullish onchain momentum.

ETH traders are still looking at a price of $10,000-$15,000

Market analysts say the ETH price is undergoing a technical correction to retest key support levels before continuing its uptrend.

According to cryptocurrency analyst Annie, technical analysis conducted using the Wyckoff method indicates a potential break of the ETH price above the level of $10,000.

Related: Bitmine’s stake in Ether indicates $164 million in annual staking revenue

“The structure is ready, it’s just waiting for the last breakout” – analyst he said in the last post on X, adding:

“​​When the market starts, it will shoot up immediately. $ETH price target is $10,000.”

Another Bitcoinsensus analyst shared a similar bullish forecast for ETH, indicating that an ETH price of $10,000 could still be in this cycle.

“Looking at the previous price behavior, we see that Ethereum has undergone a huge rally,” the analyst he said in a post from January 1 on X.

The accompanying chart showed that the ETH/USD pair “has seen diminishing returns” with each rally.

“If we apply the same logic, we can see that the value of ETH is between $10,000 and $15,000.”

Meanwhile, Crypto Caesar remained hopeful that Ether will reach the $10,000 mark “sooner or later” once the $4,500-$5,000 monthly resistance is broken.

“​It’s only a matter of time. Onchain Season will return.”

As Cointelegraph reports, a recurring pattern linking global liquidity to the Russell 2000 index indicates a potential 226% outperformance of ETH. This departure from current levels puts the price target for Ether at $9,500.

“ETH is behind the Russell-2000 for the first time in years” he said Coinvo Trading in Monday’s X post, adding:

“When ETH catches up, altcoin season begins.”

Ethereum transaction fees have hit a 9-year low

Many onchain factors support Ether’s advantage, including high network activity and mighty downstream support.

Ethereum has also seen an influx of novel users, and on January 15, the number of daily transactions reached a record high of 2.78 million.

This has resulted in an boost in daily transaction volume by approximately 20% over the past month. The number of daily lively addresses increased by 50% over the same period, reflecting high demand on the network.

Meanwhile, daily transaction fees have dropped significantly over the past 30 days, hitting an eight-year low of less than 150 ETH ($435,000) on Tuesday, according to Glassnode data.

Lower transaction fees are a long-term catalyst for price increases because they boost Ethereum’s usability and competitiveness relative to competing Layer 1 networks while attracting more users.

“Ethereum tx fees are currently at an all-time low, but smart contract deployments just hit record highs” – Cypher he said in a recent X analysis.

This combination usually means developers ship while builders stay lively, Cypher explained, adding:

“Quietly, this is one of the most bullish environments for $ETH right now.”

🚨 NOW: Ethereum transaction fees are at an all-time low and contract deployments are at record highs per token terminal. pic.twitter.com/Dc853JT19r

— Cointelegraph (@Cointelegraph) January 23, 2026