Ethereum Network Activity Surges, Indicating Potential Upside Growth

Ethereum is demonstrating robust activity on two vital fronts simultaneously. On-chain metrics have reached new heights, signifying increased real-world usage across the network, while the technical framework indicates a tendency for upward movement. Collectively, these indicators suggest that Ethereum's present phase may represent more than mere sideways trading, as fundamental data reveals sustained demand and positive price dynamics.

Key Takeaways:

Record Transaction Levels: Ethereum has reached approximately 2.8 million daily transactions, surpassing previous peaks.
Market Trends: Technical analysis indicates Ethereum is in a reaccumulation phase in the context of a macro uptrend.
Future Potential: A bullish scenario could see Ethereum rising 70% to 75%, while a bearish outlook suggests a possible 25% to 30% correction.

Ethereum

The Ethereum network is currently experiencing a surge in activity and bullish price movements. Daily transactions have reached an all-time high, reflecting greater user engagement. Technical analysis suggests that Ethereum is in a reaccumulation phase within a broader upward trend, pointing toward the potential for further growth.

Ethereum’s Daily Transactions Soar to New Heights

Ethereum’s price activity has turned positive, reflected by a steady upward trend in recent days. On-chain data reveals that this bullish trend coincides with heightened on-chain activity. Recent statistics show that daily transactions on Ethereum have reached around 2.8 million, establishing a new all-time high for the network. This figure is notable not only as a record but also because it exceeds daily transaction levels from the peak of the 2021 bull market by approximately 64%.

A chart from Sentora illustrates Ethereum’s transaction volume steadily increasing over the years, with a sharp spike in early 2026. This comparison to 2021 highlights the previously intense activity Ethereum experienced during an altcoin season and the NFT boom, which drove transaction spikes and new price peaks.

BTC/USD currently trading at $3,334. Chart: TradingView

The fact that Ethereum now processes more transactions daily than it did in 2021 indicates broader network usage that transcends speculative activity. The consistent rise in transaction numbers showcases the extensive engagement in decentralized finance (DeFi), stablecoin settlements, and more.

Ethereum Daily Transactions Chart. Source: @SentoraHQ On X

Ethereum’s Reaccumulation in a Macro Uptrend

Technical analysis on the three-week candlestick timeframe for Ethereum’s market capitalization reveals that the cryptocurrency remains in a stable trading zone. Insights from crypto analyst Egrag Crypto indicate that Ethereum is in a reaccumulation phase within a broader uptrend.

Analysis of the three-week timeframe illustrates that ETH’s market cap is above the 21 EMA, adhering to a rising macro trendline, and demonstrating higher highs and higher lows while compressing beneath historical resistance levels. This behavior is deemed constructive rather than indicative of weakness.

Historical trends suggest that when Ethereum's market cap maintains levels above the 21 EMA during this timeframe, it typically leads to expansion phases. Conversely, prolonged dips below this level have been associated with bear market conditions. Presently, the setup indicates that EMA support is being safeguarded. From a probabilistic perspective, the current formation favors continuation rather than a downturn. A breach through the overhead resistance band could likely signal the onset of an expansion phase, pushing Ethereum toward a bullish continuation of 70% to 75%.

Market Cap ETH. Source: @egragcrypto On X

On the flip side, a bearish scenario could arise if the price dips below the 21 EMA on the three-week chart, potentially validating a deeper correction of 25% to 30% toward the lower trendline, although this scenario is considered less likely.

Featured image from Unsplash, chart from TradingView