Ethereum Transaction Activity Surges As Analysts Predict Breakout Toward $10K
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The number of transactions on Ethereum has reached an all-time high since 2023, with activity on the chain rising. Analysts expect it to be as high as $3,200 to a target of as high as $10,000. Altcoin season indicators are flashing, and Ethereum might lead the next great rally. Ethereum’s network is recording its highest transaction count since 2023, with over 1.5 million confirmed daily interactions, based on recent CryptoQuant data. The increase suggests mounting activity amid growing investor interest. At the same time, ETH trades at $2,427 with a 24-hour volume of $11.74 billion and a market cap of $293.07 billion, showing steady traction in the face of market volatility. While the price remains below the $2,500 mark, analysts note a visible divergence between network activity and price consolidation. Active address metrics also show a modest rise, with over 356,000 unique daily users participating on-chain. This suggests more Ethereum wallets are interacting with the blockchain, reinforcing user-level engagement across smart contracts, NFTs, and DeFi protocols. Analysts Eye Wyckoff Breakout Toward $3,200 and Beyond Crypto analyst Mikybull tweeted that Ethereum recently completed the Wyckoff reaccumulation test successfully. Chart-based technical analysis indicates that a consolidation or correction period is completed and a breakout trend may ensue. He identified the range of $3,200 as a potential breakout point and stressed the possibility of a bull run ahead. Echoing this view, XForceGlobal labeled Ethereum’s price behavior as “objectively bullish” after a move toward $2,800. Using Elliott Wave analysis, he forecasted a rally toward $9,400, with new all-time highs anticipated later in the cycle. Historical cycles and renewed accumulation among whales support this outlook, aligning with current transaction and address surges. Source:X Market analyst Michel van de Poppe also contributed, stating that ETH’s position is structurally strong above $2,400. He indicated that the market…
Filed under: News - @ June 29, 2025 1:04 am