Ethereum Price Forecast for Jan 29: What’s Next After Record Contract Deployments in Q4 2025?

The Ethereum record contract deployments in Q4 2025 signal growth, but key resistance and support levels will determine its next move.

Notably, Ethereum ($ETH) has experienced a 1.7% decline in the past 24 hours, erasing some of this week’s gains. The price has ranged between a low of $2,937.74 and a high of $3,036.85 during this period, showing a trend towards the lower end of this range.

Despite some volatility, Ethereum remains above the $2,900 mark, making it a crucial support level. Over the past 7 days, $ETH has faced a more significant 2% decline, and in the last 14 days, it has decreased by 10.7%.

With its price action fluctuating around the $2,950 mark, traders are closely watching for a potential breakout or further declines. Where’s $ETH headed?

Ethereum Price Prediction

Looking at technical charts, Ethereum is currently trading below the Ichimoku Cloud. For Ethereum to initiate an upward move, it must break above the cloud, which starts at $3,091.

ETHUSD Price Analysis

This level represents a key resistance zone, and a breach above it would suggest a potential bullish continuation towards the upper boundary above $3,180. Additionally, the conversion line is still below the baseline, which is a bearish signal. For a shift in momentum, the conversion line must cross above the baseline at $3,091.

If Ethereum fails to breach the cloud and the conversion line does not flip above the baseline, the price could face further downward pressure. In this scenario, Ethereum may test lower levels, with the immediate support at $2,811. A failure to hold above this level could lead to a deeper retracement toward the next significant support at $2,720.

Ethereum Hits Record Contract Deployments

Meanwhile, further data from Token Terminal show that Ethereum reached an all-time high of 9.1 million contracts deployed in Q4 2025. This surge in contract deployments proves Ethereum’s increasing network activity and adoption.

The chart also shows the divergence between the volume of contracts deployed and transaction fees. While Ethereum is experiencing heightened usage and adoption, the network is becoming more efficient, leading to lower transaction costs. Overall, this positions Ethereum for more sustainable growth in the long term.