Ethereum (ETH) has extended its weekly losses to nearly 10% thanks to a bearish technical setup and fading risk appetite across digital assets. Nonetheless, artificial intelligence (AI) predicts that the second-largest cryptocurrency by market cap is going to pull back before the end of the month.
More specifically, OpenAI’s flagship large language model, ChatGPT, suggests that under a base-case scenario, which entails no surprising market shocks and steady adoption, Ethereum could trade around $3,400 by February 1.
The projection implies a 17% upside from the current Ethereum price of approximately $2,905 and would place the asset back within striking distance of its mid-November highs last year.
ChatGPT Ethereum price prediction
In a more bearish scenario, meaning if broader market sentiment weakens or key support levels fail to hold, ETH could see prices dip. ChatGPT forecasts that such developments could open the door to corrections toward the $2,400
Conversely, bullish momentum will pick up if the token manages to maintain support above key moving averages. If it breaks through higher resistance points around $3,447, prices could climb towards price above $4,000 levels by early February.
January 2026 Ethereum outlook
When prompted to give a more central estimate and a specific price point, the machine learning algorithm reiterated the base-case scenario as the most likely and suggested the ETH price would hit $3,400 by February 1.
While AI might be ambitious, market sentiment still remains mixed. For instance, the Commodity Channel Index (CCI) at −121.7 and the Stochastic Relative Strength Index (RSI) at 7.7 point to exhaustion on the downside. That is, these readings typically precede short-term bounces, supporting the current uptick in price.
However, not all oscillators agree. The MACD remains in sell mode at −52.9, while the 14-day RSI sits at 38.9, still below the neutral 50 level. This suggests that although selling pressure may be easing, bullish momentum has yet to firmly return.
Accordingly, traders are now watching support around $2,900–$3,000 as the defining threshold for trend continuation or reversal heading into February.
Featured image via Shutterstock
