Ethereum & Solana Activity Slumps: On-Chain Signals and the Road to 2026

The cryptocurrency market has not been trading in unison. Analysts have noted that on-chain activities on both Ethereum and Solana have slowed. The sudden deceleration comes from increased liquidity cycles, selling pressure, and changing investor sentiment. 

Ethereum: Current market trends  

Ethereum (ETH) is currently trading at $3,009.1, indicating overall bullish sentiment, and a strong price movement is expected in the upcoming days. According to analysts, buyers are returning to the ETH derivatives market. Whales have accumulated over 360K ETH last week, restructuring the distribution trends. 

On the other hand, US-based investors and retail traders sold a substantial amount of ETH, which counteracts bullish pressures. ETH is trading between the 20-day EMA near $3,000 and the 50-day EMA near $3,130, indicating a price consolidation. 

According to analysts, if ETH prices can break out above the 50-day EMA, it could head towards $3,260. On the other hand, a breakdown could push the price to $3,000, testing the support near $2,900. 

Based on ETH price predictions for 2026, the price could range from $3,600 to $12,300. It could be driven by growing institutional interest and practical network upgrades. Analysts also consider the big whale accumulation that could drive prices up. However, persistent retail selling can hinder it, and there could be a potential fallback if it can’t maintain the support levels. 

Solana’s network growth struggles, concerning investors 

Solana (SOL) prices had surpassed $10 in mid-January, marking a three-month high. After the peak, the prices corrected, falling to $127 by January 23, 2026. Weak network participation has raised concerns, as weekly wallet creation dropped from 30.2 million in November 2024 to only 7.3 million.

On the other hand, technical indicators signal short-term optimism. The 4-hour EMAs strengthened, suggesting SOL can go through a temporary price rally if the triangle resistance is cleared. According to the analyst, historical price movements indicate that a rally without strong on-chain support disappears quickly. This means that a strong network is essential for a long-term price rally. 

Even though the Solana price can experience a short-term price surge, a stronger wallet activity and broader participation are required for a long-term rally. 

Is BlockDAG the next thing if the crypto cycle climbs? 

BlockDAG is a rapidly growing and one of the most discussed projects in the cryptocurrency market. So far, it has raised over $444 million and has more than 3.5 million users who are actively mining, and a fixed presale price of $0.001. Analysts predict BlockDAG is in the final phase. 

Final Thoughts 

The price prediction for Ethereum (ETH) is positive; however, it would have limited expansion prospects. ETH is at a key juncture, but strong resistance is prevailing at certain price levels, preventing significant price movement. Even though whales are accumulating ETH tokens, certain retail sell-offs are causing tension. 

On the other hand, Solana (SOL) is expected to have short price rallies. The rallies are to be short-lived due to weakening network activities, hindering long-term sustainability. 

BlockDAG is gaining more attention as it has not yet entered the market. It has raised over $444 millions, and only 2.43 billion coins remain. The presale ended on January 26, and the prices could take new turns once it gets into the market.