Key highlights:
- ETH prices are currently above the support level of $1,750, whereas $1,800 and $1,900 constitute the resistance levels
- Ethereum transactions climbed from 1.7 million to 13 million, even as active addresses fell from 380,000 to 300,000
- The Lean Ethereum initiative by Vitalik Buterin features private validators, quantum resistance, and zero-knowledge consensus
. The daily active addresses dropped from about 380,000 to 300,000 during the period under study. This generally implies that fewer individual wallets were using the blockchain.
On the other hand, transactions spiked. Ethereum transactions increased from approximately 1.7 million to 13 million over the same period, an increase of more than 650%. That means the wallets still using Ethereum are generating much more activity than before. There are several possible explanations, including heavier DeFi usage, automated trading, staking activity, or institutional participation.
For the ETH price, rising transaction volume is encouraging because it shows the network is processing far more activity. Even so, traders would likely feel more confident if active addresses also begin moving higher, showing broader user participation is returning alongside the increase in transactions.
What comes next for the ETH price?
The next move hinges on the ability of buyers to retain control of the present support level. The ETH price will have to stay above $1,750 for the rally to stay intact. A breakout above $1,800 might pave the way for the $1,850 and $1,900 levels.
If buying pressure continues beyond that, traders will watch $2,000 and then the daily 100-day moving average around $2,018. Clearing those levels would mark one of Ethereum’s strongest technical improvements in months. If sellers regain control, the first support comes in near $1,738, followed by the 4-hour moving average around $1,673 and then the $1,600 level.
CoinCodex’s 1-month ETH price prediction places the price at $2,679.07, pointing to further upside from current levels if buyers can hold the $1,750 support zone and break above the $1,800-$1,900 resistance area before targeting the $2,000 region.
Source:: ETH Price Prediction: Rising Spot Demand and Ethereum's Privacy Roadmap Support the Bull Case