Ethereum (ETH) is currently trading near $2,415, exhibiting potential for a price breakout as robust network fundamentals point toward sustained demand.
Currently trading within an established range, ETH finds support around $2,380 while facing significant resistance near the $2,800 level. Market participants are closely monitoring these thresholds.
Correlating with this price stability is evidence of substantial network growth. Ethereum recently achieved a significant milestone, surpassing 20.2 million active addresses. This represents a substantial year-over-year increase of 52.7%, highlighting accelerating user adoption.
The surge in activity is significantly fueled by Layer 2 scaling protocols. These solutions have driven a remarkable 74.7% increase in network usage, effectively alleviating congestion and markedly reducing transaction costs for users.
Further strengthening Ethereum’s position is its growing interoperability. The network is expanding its connections with other blockchain networks, fostering a more interconnected and versatile ecosystem.
Analysts suggest that breaking through the $2,800 resistance barrier is a distinct possibility. This potential upside move is underpinned by Ethereum’s strong underlying network fundamentals and the expanding adoption driven by Layer 2 scaling.