Ethereum of course showing signs of strength in two critical aspects at the same time. On-chain activity has risen to record levels, indicating the heaviest real-world usage across the network, while the long-term technology architecture dependent on upward continuity.
Together, these signs suggest that Ethereum’s current phase may be more than a sideways movement, as fundamental data points to continued demand and constructive price behavior.
Related Reading
Ethereum Daily Transactions Hit New High
Ethereum price action is turning bullish with a strong increase in recent days. Notably, on-chain data shows that this increase is on top of ongoing on-chain activity in recent days.
Data from Ethereum on-chain activity shows that daily sales have recently risen to nearly 2.8 million, setting a new high for the network. Interestingly, this number stands out not only as a record, but because it is almost 64% higher than the daily transaction levels seen during the 2021 bull market.
Chart data from Sentora shows a progression showing the number of Ethereum transactions slowly increasing over the years and peaking at the beginning of 2026.
Comparison of procurement activity with 2021 it adds more context considering the huge amount of activity the Ethereum network was witnessing at the time. At the time, Ethereum was in the middle of the altcoin season and the NFT boom, all of which contributed to increased transaction activity and pressure on new price increases.
The fact that Ethereum is now processing more transactions per day compared to 2021 shows that its network usage has grown beyond the expected behavior. The continuous increase in transaction activity reflects the total amount of use in all sectors of decentralized finance and stablecoin settlement, among many others.
Ethereum Daily Transactions Chart. Source: @SentoraHQ On X
Ethereum Regroups Within Macro Uptrend
A technical analysis of the Ethereum market capitalization over a three-week candle period shows that the cryptocurrency is still trading in a stability zone. In particular, technical analysis made by a crypto analyst Egrag Crypto suggests that Ethereum has entered regrouping within a macro uptrend.
Looking at the 3-week period shows that the ETH market is above the 21 EMA, respecting the rising trendline, printing high highs and high lows, and pressing below historical resistance. That is constructive behavior, not weakness.
History shows that the times when the limit of the Ethereum market held above the 21 EMA during this period led to growth phases, while continuous movements below it marked bear market conditions.
Related Reading
Currently, the structure is showing EMA support is protected. From a probabilistic perspective, the current setup relies on continuity rather than fragmentation. A move through the overhead resistance band would confirm an extension phase and allow Ethereum to continue its bullish continuation at 70% to 75%.
The market for ETH. Source: @egragcrypto On X
On the other hand, a bearish effect will occur if the price action loses the 21 EMA on the three-week chart. This may warrant a deep correction of 25% to 30% to the lower trend line, but this situation carries low probability.
Featured image from Unsplash, chart from TradingView
