ETHUSD Today, January 20: Hoskinson Slams XRP Bill Stance, Policy Risk
Ethereum price today is under pressure, trading near $2,999 with a 9.58% daily drop as policy headlines weigh on risk. Charles Hoskinson criticized Ripple CEO Brad Garlinghouse for not opposing the latest U.S. crypto market structure bill, while Coinbase reportedly withdrew support and lawmakers delayed a markup. This raises near-term uncertainty for U.S. traders. With DeFi-versus-banks concerns in focus, we expect wider ranges and quick swings. We break down levels, catalysts, and clear tactics for the day.
ETH slides on policy headlines
Ethereum price today sits near $2,999, down 9.58% after opening near $3,317. First support is the day low at $2,978, with the session high at $3,367. The first mention of ETHUSD anchors the move around the $3,000 zone, a key psychological level. Sentiment softened as Congress postponed a bill markup and Coinbase reportedly withdrew support, while Hoskinson publicly pressed Ripple’s Brad Garlinghouse to oppose the draft.
Traders price in regulatory risk because U.S. rules can shape liquidity, bank access, and compliance. A tighter framework could raise costs for exchanges and DeFi activity built on Ethereum, while a balanced bill could support institutional flows. Lawmakers postponing the markup and industry splits add noise, which often increases intraday ranges and drives knee-jerk moves around headlines.
Volatility is elevated. Average True Range sits near 149, which implies bigger intraday swings. Bollinger Bands span roughly $2,771 to $3,246, and the mid-band near $3,009 marks a pivot. When policy news hits, price often tests these bands faster. We expect quick fades near resistance and sharp bounces at supports until clarity improves.
Key levels and indicators to watch
RSI near 49 signals neutral momentum. The MACD histogram positive at 29.38 hints at a possible short-term stabilization, but we need confirmation above nearby moving averages. ADX at 24 suggests a developing trend, not a strong one. Until momentum strengthens, rallies may stall into resistance and dips may find buyers near round numbers.
Immediate resistance sits around the 50-day average near $3,063 and the Bollinger upper band at $3,246. Above that, the Keltner upper band at $3,372 is a tough ceiling. First support is $2,978, then the Bollinger lower band near $2,771. The 200-day average around $3,646 remains the major higher-timeframe hurdle for bulls.
Intraday, we monitor holds above the Bollinger mid-band near $3,009 and quick reclaim of $3,063 to suggest momentum repair. A failed bounce under $3,063 can invite retests of $2,978. Breaks and closes beyond the bands often extend, so traders may wait for pullbacks to the breakout level before engaging, with stops sized to ATR.
Policy backdrop: bill, Coinbase, Ripple
Reports indicate Coinbase withdrew its support for the new crypto market structure bill, and lawmakers delayed the markup. That raises questions about stablecoin treatment, exchange standards, and DeFi oversight. Until text improves and support realigns, developers and liquidity providers could pause decisions, which tends to reduce depth and widen spreads.
Charles Hoskinson urged stronger industry opposition and criticized Ripple CEO Brad Garlinghouse for not pushing back on the draft. His comments signal a split on tactics as firms weigh compromise versus resistance. Coverage of Hoskinson’s critique is available at Benzinga and his wider policy views at CoinDesk.
Ethereum powers a large share of U.S.-facing DeFi, tokenization, and stablecoin rails. Tighter rules could push activity offshore or into permissioned models, while clear paths for custody and market structure could draw institutions. Policy direction, not just price, may drive whether capital rotates into ETH or prefers BTC’s perceived regulatory advantage.
Scenarios and strategy for U.S. traders
If price holds above $3,009 and reclaims $3,063, momentum could target $3,246 and $3,372. A close above those zones opens the path toward the quarterly model estimate near $3,472 and the yearly around $3,721. Weak policy headlines would still cap upside, so consider partial profits into resistance and trail stops as price advances.
Losing $2,978 on volume exposes $2,771. A decisive break could bring the monthly model near $2,582 into view. Failed retests of $3,009 would keep pressure on dips. Bears are invalidated on strong closes above $3,246 and sustained trade over $3,063, which would hint at buyers regaining control.
Use smaller size and wider stops aligned to ATR, and avoid chasing the first move after headlines. Consider staggered entries near supports or on confirmed breakouts. For long-term investors, disciplined dollar-cost averaging can smooth volatility. Longer models point toward $4,389 in 3 years and $5,062 to $5,731 in 5 to 7 years, with path risk high.
Final Thoughts
Ethereum price today sits near $3,000 as policy risk takes the driver’s seat. The tape says neutrality by RSI and a fragile trend by ADX, with big ranges flagged by ATR and wide bands. For near-term trading, the $3,009 to $3,063 zone is the tell. Reclaims favor tests of $3,246 and $3,372, while breaks under $2,978 risk a slide toward $2,771. We plan positions around those levels, size to volatility, and react to headlines, not forecasts. For longer views, consistent buying on weakness with firm risk limits and patience can work while awaiting clearer U.S. rules.
FAQs
Why is Ethereum price today falling?
It is down as U.S. policy risk rises. Reports say Coinbase withdrew support for a crypto market structure bill and lawmakers delayed a markup, adding uncertainty. Charles Hoskinson also criticized Ripple’s Brad Garlinghouse over the bill stance, highlighting industry splits. That mix weakens sentiment and widens intraday swings.
What are the key Ethereum price levels to watch today?
First support is $2,978, then $2,771. On the upside, watch $3,009 to $3,063 as a pivot zone, followed by $3,246 and $3,372. A strong close above $3,246 can extend gains, while a break under $2,978 raises downside risk and may invite tests of lower bands.
Do technical indicators support a rebound now?
Signals are mixed. RSI near 49 is neutral, ADX near 24 shows a developing trend, and the MACD histogram positive reading hints at possible stabilization. A sustained move above the 50-day average near $3,063 would improve odds, while failure there leaves price vulnerable to another test of $2,978.
How could the crypto market structure bill affect ETH?
The bill could change exchange standards, custody rules, and how DeFi is treated. Tighter rules may raise costs or push activity offshore, while clearer paths could draw institutions. Until the markup resumes and the draft gains support, uncertainty may limit risk-taking and keep Ethereum sensitive to headlines.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
