Ethereum’s daily transaction count has surged to approximately 1.45 million, matching levels last observed during the 2021 bull market peak. This resurgence in network activity underscores robust demand for the blockchain despite current price consolidation between $2,450 and $2,700, signaling balanced market conditions awaiting a decisive catalyst.
Technical indicators reveal a short-term stochastic breakdown, though Ethereum’s fundamental strength—demonstrated by sustained daily transactions exceeding 700,000 since 2022—points to underlying bullish potential. Market analysts emphasize that maintaining transaction volumes above 1.5 million would significantly bolster confidence in network growth trajectories.
Critical resistance levels at $2,700 and $2,900 remain focal points for traders, with the transaction surge reflecting heightened utility adoption. The convergence of strong network usage and technical consolidation suggests Ethereum is positioned for potential upward momentum pending market triggers.