Ethereum is back under the spotlight, not for an explosive price action, although it has made decent gains in the weekly graph.
But it is mainly for a subtle lag below the surface. While the ETH is negotiated at around $ 1,790, a 15% increase in the weekly graph, the recent metrics in chain suggest that a more explosive action could arise earlier than expected.
The number of daily transactions of Ethereum (7DMA) rebounded at around 1.2 million after plunging near the brand of 1.1 million earlier this year. Although still below its summits at the beginning of 2024, this rebound signals a recovery in the use of the basic network.
Active addresses tell a similar story. The number of active addresses remained in the range of 450,000 to 500,000 throughout the month of April, recovering from a crisis in March which saw it lower below 400,000.
Meanwhile, the creation of new addresses remains stable, fluctuating between 100,000 and 120,000 per day. This level of activity suggests biological growth of users and a continuation of integration, even if The retail fervor has cooled.
Ethereum fees hit the bottom of the rocks
Despite this increase in engagement, the volume on the chain of Ethereum remains stable. The daily volume tends to $ 2.5 billion, well below the summits of $ 9.2 billion observed in January. The decline suggests a quieter commercial environment and a reduced challenge activity, supported by data showing a drop in decentralized exchange volumes.
However, everything is not dark. Average transaction costs on Ethereum have dropped, recently falling below $ 1. This is the lowest level lowest in almost a year, creating a more user -friendly environment for retail users and smaller protocols. The lower costs tend to stimulate experimentation, especially during periods of lower volatility.
Interestingly, the founder of Cardano, Charles Hoskinson, recently made daring affirmations on the future of Ethereum, declaring that she will go out in the next ten to fifteen years because of her former architecture and “eating alive” by faster and meager competitors like Solilana and Sun Network.
ETH prices prices
From a price point of view, Ethereum faces a high resistance at $ 1,895, a level that coincides with a significant basic cost cluster and the exponential mobile average of 50 days (EMA). If ETH breaks above and closes above this level on a substantial volume, it could set up an evolution around $ 2,140, taking off the wider structure of its current decrease trend.
The fact of recovering this area, however, opens the door to a support retain at $ 1,580 or even lower, especially if the macro conditions or the domination of Bitcoin suppress the appetite of the Altcoin.
Although the DEFI of Ethereum activity remains stifled and the ETH / BTC pair has not yet recovered the momentum, there are subtle reactive signals. Merchants look at to see if this recent increase in addressing activity, an accumulation of input recordings and ultra-basic costs could foreshadow a change in the story. For the moment, the ETH remains in the limbo, taken between a wider prudent market and the first signals of the renewed health of the network.
